Ripple has officially received a full Electronic Money Institution (EMI) license from Luxembourg's financial regulator, marking a significant step in the San Francisco-based fintech company's strategy to expand its operations in Europe. This decision follows Luxembourg's initial approval on January 14th, which has now been upgraded to a full license, allowing Ripple to fully deploy its payment services and digital assets across the entire European Union.
According to Ripple, the EMI license granted by the Luxembourg Financial Sector Supervision Commission (CSSF) provides the company with a tightly regulated legal "gateway" to offer blockchain-based payment solutions to European businesses. In the context of the EU accelerating the digitalization of the financial system and adopting the MiCA legal framework for digital assets, Luxembourg's approval allows Ripple to leverage the "passporting" mechanism, thereby expanding its services to multiple member states without needing to apply for separate licenses in each market.
Cassie Craddock, Managing Director for the UK and Europe at Ripple, emphasized that Europe has long been a strategic focus for the company. Being licensed in Luxembourg not only strengthens Ripple's legal position but also helps the company accelerate its mission to provide compliant blockchain infrastructure, supporting the transition from a traditional financial system to a more efficient and transparent digital model. According to Ripple, demand from European banks and businesses for fast, low-cost cross-border payment solutions is growing rapidly, particularly in international trade and multi-currency money management.
The move in Luxembourg comes shortly after Ripple's notable progress in the UK. Just a month earlier, the UK Financial Conduct Authority (FCA) granted Ripple both an EMI license and cryptocurrency asset registration, paving the way for the company to expand its platform in the UK market as the government aims to complete a comprehensive regulatory framework for crypto by 2027. The combination of UK and Luxembourg is helping Ripple build a solid legal foundation in two key European financial centers.
To date, Ripple states that it holds over 75 licenses and regulatory approvals globally. This portfolio serves as the foundation for its ambition to provide next-generation financial infrastructure, supporting financial institutions in transitioning from legacy payment systems to digital asset technologies, including blockchain and stablecoins.
