Ripple receives preliminary approval for EU crypto license

Ripple announced it has received preliminary approval from Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), for a Crypto Asset Service Provider (CASP) license under the European Union's Markets in Crypto-Assets (MiCA) regulation. Once the company fulfills the remaining conditions to obtain the full license, it will be able to offer virtual asset services to financial institutions and businesses across the 30 countries of the European Economic Area (EEA). Ripple, which already holds an EU Electronic Money Institution (EMI) license, noted that final approval of the CASP license would allow it to provide integrated cryptocurrency and stablecoin payment infrastructure to banks, fintech firms, and corporate clients in Europe.