Ripple nears 30-country MiCA payments rollout

• Ripple secured preliminary approval for a Crypto Asset Service Provider licence under the EU’s MiCA framework.
• The approval moves Ripple closer to offering regulated crypto services across all 30 European Economic Area countries.
• The company said the licence would support broader adoption of its crypto asset and stablecoin payments infrastructure.

Ripple (CRYPTO:XRP) has received preliminary approval for a Crypto Asset Service Provider licence under the European Union’s Markets in Crypto-Assets framework, bringing the company closer to expanding regulated crypto services across 30 countries in the European Economic Area.

The conditional approval, disclosed on June 23, follows Ripple’s earlier acquisition of an Electronic Money Institution licence and strengthens its regulatory position as demand for digital asset services grows across Europe.

“It will enable Ripple to scale regulated cryptoasset services to financial institutions and businesses across all 30 countries of the European Economic Area,” Ripple said.

The company stated that, once fully authorised, banks, fintech firms and corporate clients will be able to access its crypto asset and stablecoin payments infrastructure through a single integration covering collection, conversion and payout services.

Ripple said the pending CASP licence is expected to operate alongside its existing EMI licence, and the company added that full approval would make its European operations fully compliant with MiCA requirements; following the announcement the XRP price was not immediately disclosed.

According to Ripple, its payments network has processed more than US$100 billion in transaction volume and currently operates across more than 60 markets worldwide.

The company also stated it holds more than 75 regulatory licences globally and provides services including cross-border payments, digital asset custody, liquidity solutions, treasury management, RLUSD stablecoin services and infrastructure built around XRP.

At the time of reporting, XRP price was $1.11.