US blockchain company Ripple has obtained preliminary approval for a Crypto Asset Service Provider (CASP) licence in Luxembourg. <\/p>\n
The authorisation was issued by Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), under the European Union’s Markets in Crypto Assets (MiCA) framework. <\/p>\n
Ripple said the initial clearance came in the form of a “Green Light Letter” and remains subject to final conditions before full approval is granted. <\/p>\n
Once confirmed, the licence will allow the company to broaden regulated cryptoasset services for financial institutions and businesses across the 30 countries of the European Economic Area. <\/p>\n
Ripple UK & Europe head of policy Matthew Osborne said: “Luxembourg has established itself as a leading centre for financial services regulation in Europe, combining deep supervisory expertise with a clear, proportionate framework for digital assets – making it the natural regulatory home for Ripple’s European operations.” <\/p>\n
The CASP approval, together with Ripple’s existing Electronic Money Institution (EMI) licence in the EU, would allow European banks, fintech groups and corporates to use the company’s cryptoasset and stablecoin payments infrastructure through a single integration. <\/p>\n
This would cover the ability to collect, exchange and pay out, the company said. <\/p>\n