Ripple secures preliminary EMI license approval in Luxembourg as EU payments push advances

Blockchain and cryptocurrency solutions firm Ripple has achieved a significant regulatory milestone in its European expansion strategy, securing preliminary approval for an Electronic Money Institution (EMI) license in Luxembourg. This approval, granted by the Commission de Surveillance du Secteur Financier (CSSF), is crucial for enabling Ripple to significantly scale its digital payment operations across the European Union (EU) and the wider European Economic Area (EEA).

The EMI license provides Ripple with the necessary regulatory authority to issue electronic money and offer regulated payment services to institutional clients throughout the bloc. By obtaining this license in Luxembourg, a major financial technology hub, Ripple gains invaluable ‘passporting’ rights, allowing it to offer its services, including its specialized cross-border payment network, RippleNet, to customers in all EU member states without requiring separate national licenses.

This strategic move underscores Ripple’s commitment to achieving regulatory clarity in key global markets. The European focus offers a clear pathway for compliant growth, contrasting with the ongoing regulatory uncertainty the firm faces in other jurisdictions, particularly the United States.

Securing the preliminary EMI approval accelerates Ripple’s drive to capture market share in the rapidly evolving EU digital payments landscape, positioning the company to deliver faster, more efficient, and compliant settlement solutions for businesses operating across European borders.

Source: Ripple secures preliminary EMI license approval in Luxembourg as EU payments push advances