Ripple CASP license in Luxembourg marks a major milestone for the crypto payments firm. The company received preliminary approval via a “Green Light Letter” from Luxembourg’s financial regulator CSSF on June 23.
This license under the Markets in Crypto‑Assets (MiCA) regulation enables Ripple to scale its crypto services to financial institutions and businesses across all 30 countries of the European Economic Area.
Why the Ripple CASP license matters
The CASP license and the existing electronic money institution (EMI) license in Luxembourg initiate full access to Ripple’s complete cryptoasset and stablecoins payments infrastructure. Consequently, European banks, fintechs, and corporates can now collect, exchange, and pay out via a single integration for the first time.
This follows other European regulatory approvals, including a license from the UK FCA and partnerships in the EU region. Therefore, this strengthens real‑world use cases for Ripple‑linked XRP, XRPL, and RLUSD.
“Financial market infrastructure is moving onchain – from cross‑border payments and settlement to collateral management and tokenised assets – and banks and fintechs are actively building the digital asset capabilities they need to remain competitive,” said Cassie Craddock, Managing Director, UK & Europe at Ripple.
Firm secures MiCA compliance ahead of transition deadline
The combined CASP and EMI licenses make Ripple fully MiCA compliant ahead of the July 1 transition deadline. Notably, Binance is facing issues in MiCA compliance after its application in Greece encountered a major roadblock.
Additionally, Ripple stated that its global license count has grown to more than 75. This positions the company as one of the more heavily licensed companies in crypto as the industry shifts toward regulated, institution‑facing use cases.
XRP price reaction
XRP price bounced slightly after the crypto license in Luxembourg, with prices currently trading at $1.09. Trading volume increased by more than 18% amid a massive rise in futures open interest on Binance.
Nevertheless, the selloff is coming from US traders, with XRP futures open interest down almost 4% on CME in the last 4 hours, according to Coinglass data.