Ripple secures preliminary EMI license approval in Luxembourg as EU payments push advances
Ripple received preliminary approval for an Electronic Money Institution license from Luxembourg's CSSF regulator to expand its EU payments business.Summary
Ripple has obtained preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). This preliminary approval, granted via a "green light letter" subject to final conditions, is a significant step in scaling Ripple's cross-border payments platform across the European Union, allowing institutions to use stablecoins and digital assets for payments.
This development follows Ripple's recent authorization in the UK. Ripple executives emphasized that the EU's comprehensive digital assets regulation (MiCA) provides the certainty needed for financial institutions to move blockchain technology from pilots to commercial scale. Ripple Payments, which manages the end-to-end flow of value and connects clients to global payout partners, has processed over $95 billion in volume to date and holds more than 75 licenses globally.
(Source：The Block)