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Ripple targets EU, wins preliminary MiCA approval from Luxembourg financial regulator
Key takeaways
- Ripple, the blockchain company behind the XRP Ledger, is on its way to regulatory approval in the European Union (EU) via licensing in Luxembourg.
- A license would enable Ripple to offer its stablecoin payment systems to European companies and allow it to expand into broader crypto functions, according to the announcement.
- MiCA allows companies that receive approval in one EU state to offer cryptocurrency services across the bloc.
Ripple, the blockchain company behind the XRP Ledger, is on its way to regulatory approval in the European Union (EU) via licensing in Luxembourg.
The San Francisco, California-based firm received a preliminary green light for a Crypto Asset Service Provider (CASP) license from the country's Commission de Surveillance du Secteur Financier (CSSF) under the EU’s Markets in Crypto Assets (MiCA) regulation, Ripple said Tuesday.
A license would enable Ripple to offer its stablecoin payment systems to European companies and allow it to expand into broader crypto functions, according to the announcement.
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