Ripple secures full EMI licence in Luxembourg, paving way for EU expansion

Crypto payments group Ripple has received its full electronic money institution (EMI) licence in Luxembourg, the company announced on Monday.

The licence was granted by Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), following a preliminary approval issued last month.

Ripple said it has since met all outstanding conditions attached to the preliminary authorisation, enabling the CSSF to grant full approval.

An EMI licence is a prerequisite under the EU’s Markets in Crypto-Assets Regulation (MiCA) framework for firms seeking to issue or distribute fiat-backed stablecoins and to provide certain regulated payment services across the bloc.

With the Luxembourg licence in place, Ripple said it can now accelerate the expansion of Ripple Payments, its cross-border payments business, across EU member states.

“Securing our full EMI licence in the EU is a transformative milestone that reinforces Ripple’s presence at the heart of European finance,” said Cassie Craddock, Ripple’s managing director for the UK and Europe.

She added that the authorisation would allow the company to scale its services while operating within a regulated framework.

The Luxembourg approval follows a series of recent regulatory wins for Ripple. In January, the company said it had obtained an EMI licence and cryptoasset registration from the Financial Conduct Authority in the UK, strengthening its regulatory footing on both sides of the Channel.

Once fully operational under its Luxembourg licence, Ripple will be able to offer regulated payment services across the EU via passporting, in line with European single-market rules. The authorisation also brings the company closer to issuing RLUSD, its planned US dollar-pegged stablecoin, in the European Economic Area, although Ripple has not confirmed a launch timeline.

Last year, Ripple incorporated a Luxembourg entity, Ripple Payments Europe, and has been building out compliance and operational functions locally.

Luxembourg has increasingly positioned itself as a hub for crypto and fintech firms seeking EU market access under MiCA, alongside more established players in payments and asset servicing.