- Ripple said it has secured formal CASP authorization under MiCA from Luxembourg’s CSSF, allowing it to offer regulated crypto-asset services across 30 countries in the European Economic Area.
- Ripple said the approval will allow it to offer end-to-end crypto payment products across Europe to financial institutions and corporate clients.
- Ripple said it holds more than 75 regulatory licenses worldwide, including the CASP authorization and an EU electronic money institution (EMI) license, and is expanding enterprise infrastructure using XRP and other products.
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Ripple has received formal authorization as a crypto-asset service provider under the European Union’s Markets in Crypto-Assets regulation from Luxembourg’s Commission de Surveillance du Secteur Financier.
In an announcement on July 6, the company said it was granted the CASP license by Luxembourg’s CSSF. The approval follows preliminary clearance in June and allows Ripple to provide regulated crypto-asset services across all 30 countries in the European Economic Area after meeting MiCA requirements.
A CASP is a company that provides services related to crypto assets, including trading, custody, transfers and exchange. MiCA is the EU’s unified regulatory framework for crypto assets, aimed at replacing fragmented national rules with a single standard across member states.
Ripple said the authorization will allow it to offer end-to-end crypto payment products across Europe to financial institutions and corporate clients.
Cassie Craddock, Ripple’s managing director for the U.K. and Europe, said the CASP authorization shows the company is ready to enter its next phase of expansion in the post-MiCA era with full regulatory compliance.
Institutions across Europe are looking to build digital-asset services with regulated partners, and Ripple now has the licensing and readiness to meet that demand, Craddock added.
Ripple also holds an EU electronic money institution, or EMI, license. The company said that makes it one of a small number of digital-asset firms with formal authorization under the MiCA framework.
Ripple said it holds more than 75 regulatory licenses worldwide. The company provides payments, custody, liquidity and treasury management solutions, and is expanding enterprise infrastructure linking traditional and digital finance through the RLUSD stablecoin and XRP.
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