Ripple announced it has received final approval from the Luxembourg financial regulator for a full Electronic Money Institution (EMI) license.
While a new wave of selling continues in Bitcoin (BTC) and altcoins, there’s positive news from Ripple (XRP).
According to a statement by Ripple, the company has received final approval for a full Electronic Money Institution (EMI) license from the Luxembourg financial regulatory authority, the Commission de Surveillance du Secteur Financier (CSSF), following the preliminary approval it received on January 14.
Following preliminary approval, this final approval allows Ripple to offer payment and digital asset services across the European Union.
The news that Ripple has received its full EU EMI license comes at a time when Ripple’s global licensing portfolio is rapidly expanding. Last month, Ripple announced that it had received an EMI license and Crypto Asset Registry from the UK Financial Conduct Authority (FCA).
Ripple UK and Europe General Manager Cassie Craddock stated: “Securing our full EMI license in the EU is a transformative milestone that strengthens Ripple’s presence at the heart of European finance. Europe has always been a strategic priority for us, and this authorization allows us to expand our mission of providing robust, compliant blockchain infrastructure to our customers across the EU. We are now better positioned than ever to help European businesses transition to a more efficient, digital-first financial era.”
Ripple recently stated that it is one of the crypto companies with the most licenses, holding more than 75 regulatory licenses worldwide.
XRP continues to trade at $1.60 amid the general market downturn.
