Ripple Secures Another Key European License as XRP Rises
Analysis
Price Impact
HighRipple securing an emi license in luxembourg, following uk approval, significantly strengthens its regulatory standing in major european markets. this enables broader expansion of its cross-border payment infrastructure, which could increase xrp's utility and adoption.
Trustworthiness
HighThe news comes directly from ripple and involves preliminary approval from a reputable financial regulator (cssf), indicating official and verifiable information.
Price Direction
BullishRegulatory clarity and expansion into key financial jurisdictions like the eu and uk create a more favorable environment for ripple's services and, consequently, for xrp's role in facilitating those services. this reduces uncertainty and opens doors for wider institutional adoption.
Time Effect
LongWhile there may be an immediate positive price reaction (xrp was up >3% on the day), the full benefits of these licenses, such as increased partnerships and transaction volume on ripple payments, will materialize over the long term as services expand and mature across europe.
Original Article:
Article Content:
In brief Ripple secured a preliminary EMI license approval from Luxembourg's financial regulator (CSSF). The approval marks Ripple's second major regulatory milestone in a week following UK approval. XRP, which powers Ripple's payments platform, is up more than 3% on the day amid a crypto market upswing. Crypto financial services company Ripple said Wednesday that it has received preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg's financial regulator, CSSF. The announcement comes just days after Ripple revealed that it had secured EMI license approval from the UK's Financial Conduct Authority. The Luxembourg approval, delivered as a "Green Light Letter," is a key step towards full EMI authorization and strengthens Ripple's ability to expand cross-border payment infrastructure across Europe. “The EU was amongst the first major jurisdictions to introduce comprehensive digital assets regulation, which provides the certainty financial institutions need to move blockchain from pilots to commercial scale,” said Ripple President Monica Long, in a statement. “By extending Ripple’s licensing portfolio and evolving our payments solution, we are doing more than just moving money,” she continued. “We are managing the end-to-end flow of value to unlock trillions in dormant capital and moving legacy finance into a digital future.” Combined with the UK license, Ripple now holds over 75 regulatory licenses worldwide. The firm said that its Ripple Payments platform has expanded to over 90% of daily foreign exchange markets, processing more than $95 billion in volume to date. "Gaining our preliminary approval is a pivotal step, enabling Ripple to provide essential blockchain infrastructure to clients across the EU,” said Ripple UK and Europe Managing Director Cassie Craddock, in a statement. “By prioritizing compliant operations, Ripple is empowering the region’s businesses to lean into the next era of financial innovation." XRP , the asset that powers Ripple’s payments platform, was on the rise early Wednesday alongside Bitcoin and other top coins . The Ripple-linked asset recently changed hands for $2.17, up more than 3% on the day. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!