Key Insights
- The Ripple EMI license is drawing closer as Luxembourg’s green lighting enhances the rollout of EU payments today.
- UK licensing and EU passporting will lift restrictions on regulated stablecoin remittances by Ripple.
- Over $95 billion is traded and grown in the FX market globally.
Ripple EMI license progress moved forward after Ripple secured preliminary authorization from Luxembourg’s financial regulator, marking another step in its European expansion. The approval, issued by the Commission de Surveillance du Secteur Financier, was delivered through a formal “green light letter,” according to a company statement.
Luxembourg approval and scope of the Ripple EMI license
In a press release on Wednesday, Ripple stated that the approval was granted following a review of its application and operational framework.
The authorization is not yet a full-fledged licensure, although it serves as an indicator of regulatory approval of the Ripple model of compliance, governance, and risk controls.
Under the EU’s passporting regime, a Luxembourg-based EMI license can be extended throughout the bloc, provided all supervisory conditions are met.
https://twitter.com/Ripple/status/2011363419501347177
Ripple stated that the license would enable payment services utilizing digital assets, including stablecoins, within a regulated environment aligned with European standards.
Cassie Craddock, Ripple’s managing director for the UK and Europe, stated that Luxembourg’s supervisory framework provides legal certainty for firms developing regulated digital asset infrastructure.
She stated that the preliminary approval enables Ripple to move closer to delivering compliant payment services across the EU.
UK regulatory progress complements EU strategy
The Luxembourg decision follows closely on Ripple’s recent regulatory progress in the United Kingdom.
The company confirmed that it received both an Electronic Money Institution license and a cryptoasset registration from the UK’s Financial Conduct Authority for its local subsidiary, Ripple Markets UK.
Source: Ripple
The UK approvals, granted days before the Luxembourg announcement, expand Ripple’s regulated presence in Europe’s two largest financial hubs.
Together with the Ripple EMI license process in Luxembourg, the authorizations support the company’s ability to provide cross-border payment services involving digital assets within established regulatory frameworks.
Additionally, Ripple President Monica Long stated that Europe’s regulatory structure has given financial institutions the confidence to move blockchain-based payment systems beyond pilot programs.
She added that expanding Ripple’s licensing portfolio supports the delivery of payment services that combine stablecoins with on-chain liquidity.
Ripple Payments and disclosed transaction volumes
Ripple operates Ripple Payments as a licensed, end-to-end cross-border payments platform. The system manages the flow of funds on behalf of clients while connecting them to a global network of payout partners.
According to the company, Ripple Payments handles blockchain infrastructure internally, allowing banks and payment providers to launch digital services without building or maintaining their own systems.
The firm disclosed that Ripple Payments has processed more than $95 billion in transaction volume to date. The company also stated that the platform now reaches over 90% of daily foreign exchange markets.
These figures were released alongside updates on the Ripple EMI license and related regulatory developments.
Alignment with the EU’s Markets in Crypto-Assets framework
Ripple said it is aligning its European operations with the European Union’s Markets in Crypto-Assets framework.
The company is pursuing approval as a crypto asset service provider and aims to achieve full compliance under MiCA by securing a CASP license in the coming months.
Craddock said the Luxembourg approval reflects Ripple’s focus on operating within Europe’s evolving regulatory standards.
She noted that consistency under MiCA is intended to provide legal clarity for firms offering digital asset services across multiple EU jurisdictions.
Moreover, the company described the Luxembourg decision as its second regulatory approval within a week, following the UK authorizations. Once finalized, the Ripple EMI license would add to the company’s existing compliance framework across the region.
Global licensing portfolio and prior authorizations
Ripple stated that the new European approvals would add to its portfolio of more than 75 regulatory authorizations globally.
According to the company, these include money transmitter licenses in 43 U.S. states and territories, as well as regulatory approvals in Singapore, Dubai, and the Cayman Islands.
Additional authorizations were obtained through acquisitions, including Layer2 Financial and Hidden Road.
The company stated that the expanding licensing base supports its cross-border payments operations and regulatory obligations across multiple jurisdictions.
Stablecoin developments in the Middle East
Separately, the firm disclosed regulatory progress related to its dollar-backed stablecoin, RLUSD.
The token received recognition as an Accepted Fiat-Referenced Token in Abu Dhabi, enabling licensed firms within the Abu Dhabi Global Market to utilize RLUSD for regulated financial activities within the free-zone financial centre.
The approval strengthens the firms expansion across the United Arab Emirates. In recent months, the company secured approvals in Dubai and Abu Dhabi and onboarded partners, including Zand Bank and Mamo.
