Ripple Secures Luxembourg ‘Green Light’ for EU-Wide Stablecoin Expansion
Ripple receives preliminary EMI approval from Luxembourg’s CSSF, unlocking future payment passporting rights across the EU just days after securing a UK license.
Ripple has secured preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), a critical regulatory beachhead that paves the way for passporting payment services across the entire European Union. The approval comes just days after the firm clinched a full EMI license from the UK’s Financial Conduct Authority (FCA), cementing a dual-jurisdiction strategy to capture institutional payment flows in post-Brexit Europe.
The ‘Green Light’ Letter
The CSSF issued what it terms a “green light letter,” a conditional authorization that signals Ripple has met the regulator’s core requirements pending final operational checks. Once fully ratified, the EMI license will allow Ripple to issue electronic money, specifically stablecoins, and facilitate payments across all 27 EU member states without needing separate licenses for each country.
Gaining our preliminary approval is a pivotal step, enabling Ripple to provide essential digital asset infrastructure to our clients across Europe. Regulatory clarity is the bedrock of institutional adoption.
. Cassie Craddock, Managing Director for UK & Europe at Ripple
Volume & Institutional Scale
The Luxembourg nod integrates with Ripple’s broader infrastructure play. The firm reports its payments network has processed over $95 billion in volume to date, leveraging a portfolio of 75+ regulatory licenses globally. By securing a foothold in Luxembourg, a Tier-1 financial hub favored by institutional treasuries, Ripple is effectively pre-positioning itself for the EU’s Markets in Crypto-Assets (MiCA) regulation, which demands rigorous compliance for stablecoin issuers.
Market Reaction
XRP reacted moderately to the regulatory win, holding steady at $2.12 (+4%) amid a broader market consolidation. The muted price action suggests the market had largely priced in Ripple’s compliance winning streak, shifting focus now to the operational execution of its stablecoin, RLUSD, within these newly regulated corridors.
