In brief
- Ripple secured a preliminary EMI license approval from Luxembourg’s financial regulator (CSSF).
- The approval marks Ripple’s second major regulatory milestone in a week following UK approval.
- XRP, which powers Ripple’s payments platform, is up more than 3% on the day amid a crypto market upswing.
Crypto financial services company Ripple said Wednesday that it has received preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg’s financial regulator, CSSF.
The announcement comes just days after Ripple revealed that it had secured EMI license approval from the UK’s Financial Conduct Authority. The Luxembourg approval, delivered as a “Green Light Letter,” is a key step towards full EMI authorization and strengthens Ripple’s ability to expand cross-border payment infrastructure across Europe.
“The EU was amongst the first major jurisdictions to introduce comprehensive digital assets regulation, which provides the certainty financial institutions need to move blockchain from pilots to commercial scale,” said Ripple President Monica Long, in a statement.
“By extending Ripple’s licensing portfolio and evolving our payments solution, we are doing more than just moving money,” she continued. “We are managing the end-to-end flow of value to unlock trillions in dormant capital and moving legacy finance into a digital future.”
Combined with the UK license, Ripple now holds over 75 regulatory licenses worldwide. The firm said that its Ripple Payments platform has expanded to over 90% of daily foreign exchange markets, processing more than $95 billion in volume to date.
“Gaining our preliminary approval is a pivotal step, enabling Ripple to provide essential blockchain infrastructure to clients across the EU,” said Ripple UK and Europe Managing Director Cassie Craddock, in a statement. “By prioritizing compliant operations, Ripple is empowering the region’s businesses to lean into the next era of financial innovation.”
XRP, the asset that powers Ripple’s payments platform, was on the rise early Wednesday alongside Bitcoin and other top coins. The Ripple-linked asset recently changed hands for $2.17, up more than 3% on the day.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SoFi Enables XRP Deposits but Restricts Withdrawals, Drawing User Criticism
Gate News message, April 21 — SoFi announced that its crypto business now supports XRP deposits, but the platform currently does not allow withdrawals to external wallets. Users can only hold or trade XRP within the platform and cannot transfer tokens to on-chain wallets.
Some users criticized the
GateNews35m ago
XRP Price Near $1.45 as ETF Inflows Build Pressure
Key Insights
Institutional XRP ETF inflows reached $41.6 million over four days, lifting assets under management above $1.08 billion and strengthening market confidence.
XRP faces strong resistance near $1.45, where CoinGlass data highlights a short max
CryptoNewsLand5h ago
XRP Expands to Solana as wXRP Drives DeFi Access
Key Insights
Wrapped XRP on Solana surpasses 834,000 tokens, enabling new DeFi access while strengthening cross-chain liquidity and expanding XRP utility beyond its native ledger.
Ethereum and Solana dominate DeFi activity, while XRP Ledger trails significantly, driving the need for
CryptoNewsLand5h ago
XRP Expands to Solana as wXRP Drives DeFi Access
Key Insights
Wrapped XRP on Solana surpasses 834,000 tokens, enabling new DeFi access while strengthening cross-chain liquidity and expanding XRP utility beyond its native ledger.
Ethereum and Solana dominate DeFi activity, while XRP Ledger trails significantly, driving the need for
CryptoNewsLand5h ago
Arthur Hayes: I'll Believe in XRP's Use at Scale When I See On-Chain Evidence
Arthur Hayes calls for on-chain evidence of XRP at scale; Iran tolls on oil tankers reportedly paid in Bitcoin to bypass sanctions, with pre-cleared shipments. Jim Rickards cites Ripple as part of a broader crypto-led parallel financial system.
Abstract: The article compares Hayes's demand for XRP's real-world on-chain use with reports of Bitcoin toll payments by Iran and notes Rickards' view that Ripple could play a role in a broader crypto-driven parallel financial system.
GateNews6h ago
Crypto Investor Predicts Bitcoin ATH at $140,000 and XRP ATH at $7 in May
Crypto investor predicts Bitcoin ATH at $140,000.
Similarly, the expert expects an XRP ATH at $7.
Both these new ATH targets for BTC and XRP are expected to arrive in May.
The prices of Bitcoin and Ethereum seem to be trading at a bullish trajectory, having just broken past major
CryptoNewsLand9h ago
