Circle Apply for Undergraduate in France

Stablecoin issuer negatively impacted by the banking crisis in recent weeks Circlehas applied for a digital asset license (DASP) in France to expand its business in Europe.

According to Circle’s official statement on March 21, the license to be obtained from France will be the signing of the euro-indexed stablecoin EUROC. MiCA will enable it to operate within the scope of its regulations. For this purpose, the stablecoin issuer simultaneously sent the necessary documents for the license to various institutions in the country.

Speaking after the announcement, Circle CEO Jeremy Allire made the following statement:

“We want to increase our share in the digital asset market by registering DASP. We will be one of the first companies to meet the requirements in this field with strengthened licenses. We created our growth plan for France in line with our goal of becoming a global hub for innovation.”

Circle Loses Blood Due to SVB Crisis

Biggest after Tether stablecoin Its issuer, Circle, held deposits worth $3.3 billion in bankrupt Silicon Valley Bank. For this reason, investors holding USDC panicked and turned to other stablecoins.

Although the stablecoin issuer has secured its remaining funds in the SVB, the market cap of USDC has dropped by 15% over the past 30 days.

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