- Ripple, provider of DLT and blockchain-based applications for traditional and digital financial systems, today received its final license as an Electronic Money Institution (EMI) from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.
- A provisional approval was granted at the beginning of January and all the requirements for the permanent license have since been met. Ripple now has official approval as an “e-money institution” for the entire European Union based on the EU passport principle.
Cassie Craddock, Managing Director UK & Europe bei Ripple, commented Ripple’s new role in Europe is as follows:
“Securing our EMI license in the EU is a transformative milestone that further strengthens Ripple’s presence at the heart of the European financial system.
Europe has always been a strategic priority for us, and this approval allows us to advance our mission: to provide robust, compliant blockchain infrastructure for customers across the EU.
We are now better positioned than ever to help European companies transition to a more efficient, digital-first financial era.”
The news of the official EU EMI license comes at a time when Ripple’s global license portfolio is expanding rapidly. Just last month, Ripple received its EMI license and registration as a crypto asset service provider from the British Financial Conduct Authority (FCA).
Ripple now has more than 75 national operating licenses worldwide, making it one of the most regulated companies in the crypto sector.
Few other digital asset companies achieve a comparable level of international regulation – an advantage that puts Ripple in a strong position to scale digital asset solutions for institutions transitioning from legacy systems to modern digital infrastructure.
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