Ripple, the leader in enterprise blockchain and crypto solutions, announced a significant regulatory breakthrough today, confirming it has been granted a full Virtual Asset Service Provider (VASP) license by the Central Bank of Ireland. This strategic authorization substantially strengthens Ripple’s foothold in the European Union and positions the company favorably ahead of the implementation of the comprehensive Markets in Crypto Assets (MiCA) regulation.
The VASP registration allows Ripple to offer a full suite of regulated digital asset services, including custody, exchange facilitation, and institutional payment solutions, across the entire EU single market. Company executives stated that securing regulatory clarity in major global financial hubs remains their top priority, citing Ireland’s robust regulatory environment as crucial for pan-European expansion.
Brad Garlinghouse, CEO of Ripple, commented on the license, emphasizing, ‘Europe represents one of the most proactive and mature markets globally for digital assets. This VASP license is a critical milestone, enabling us to seamlessly scale our On-Demand Liquidity (ODL) product and deliver instant, compliant settlement for our growing roster of European financial institutions.’
The positive institutional news immediately impacted the market performance of the native cryptocurrency, XRP. Following the announcement, XRP experienced a notable surge, climbing approximately 11.5% within 24 hours and breaking through key resistance levels. Analysts attribute the price rally to heightened investor confidence, viewing the successful license acquisition as a strong validation of Ripple’s global compliance strategy and a de-risking event compared to ongoing regulatory uncertainties in other major jurisdictions.
Source: Ripple Secures Another Key European License as XRP Rises
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