Ripple Receives Preliminary Approval for Crypto Asset Service Provider License in Luxembourg

On June 23, Ripple announced that it has received preliminary approval for a crypto asset service provider license from the Luxembourg Financial Supervisory Authority. This approval paves the way for the launch of Ripple Payments in the European Economic Area and ensures full compliance with MiCA standards. The preliminary approval will take effect once final conditions are met. Combined with Ripple's existing electronic money institution license, European financial institutions will be able to access Ripple's crypto asset and stablecoin payment infrastructure through a single integration.