Ripple has received preliminary approval for its Crypto Asset Service Provider (CASP) license from Luxembourg’s regulator under the EU’s Markets in Crypto Assets (MiCA) regulation.
This approval – a ‘Green Light Letter,’ still subject to final conditions – from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) allows Ripple to roll-out cryptoasset services to financial institutions and businesses across all 30 countries of the European Economic Area.
In combination with the firm’s existing EU Electronic Money Institution (EMI) licence, the approval allows European banks, fintechs and corporates to access Ripple’s cryptoasset and stablecoins payments infrastructure – collect, exchange and pay out – through a single integration for the first time.
“MiCA has helped to unlock a new wave of institutional digital assets adoption, and we are seeing that demand accelerate across the region,” said Cassie Craddock, managing director, UK & Europe at Ripple.
“Financial market infrastructure is moving on-chain – from cross-border payments and settlement to collateral management and tokenised assets – and banks and fintechs are actively building the digital asset capabilities they need to remain competitive.
“With our growing European presence, regulatory track record and institutional-grade infrastructure, we’re ready to meet the moment and support that transition at scale.”
Upon full approval, these combined CASP and EMI licenses will make Ripple fully MiCA-compliant.
Matthew Osborne, UK & Europe head of policy, added, “We’re grateful to the CSSF for its constructive approach throughout the licensing process.
“Luxembourg has established itself as a leading centre for financial services regulation in Europe, combining deep supervisory expertise with a clear, proportionate framework for digital assets – making it the natural regulatory home for Ripple’s European operations.”
