Luxembourg’s financial watchdog the CSSF has granted final full EMI licensing approval to American digital payments platform Ripple, allowing it to operate throughout the EU.
Founded in the US in 2012, Ripple builds faster, cheaper ways to move money around the world by working with banks and payment companies.
The announcement comes as the firm focuses on global expansion. In January, Ripple received its EMI licence and Cryptoasset Registration from the UK’s Financial Conduct Authority (FCA). It claims to have more than 75 regulatory licences around the world. “Few other digital assets companies come close to this level of regulatory oversight, putting Ripple in a strong position to scale its digital assets solutions to support institutions as they move from legacy technology to modern digital asset infrastructure,” the firm said in a statement.
Its flagship technology, XRP, is a pre‑mined cryptocurrency designed to enable fast settlement and lower costs in international money movement. Other tools include RippleNet, a payment network, allowing banks to send money internationally almost instantly instead of waiting days, and software for banks and businesses. It also creates stablecoins (digital money pegged to regular currencies like the US dollar) and is expanding into tools for trading and banking, to blend crypto with traditional finance.
“Europe has always been a strategic priority for us, and this authorization allows us to scale our mission of providing robust, compliant blockchain infrastructure to clients across the EU,” Cassie Craddock, Managing Director, UK & Europe at Ripple said, adding: “We are now better positioned than ever to help European businesses transition into a more efficient, digital-first financial era.”
