Ripple announced that they’ve managed to secure their preliminary Electronic Money Institution license approval from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.
In a nutshell, this license, once granted in full, will allow Ripple to issue digital cash, also commonly referred to as e-money, and provide digital payment services like digital wallets, prepaid cards, processing payments, money transfers, and more, within the jurisdictions regulated by the CSSF.
It’s important to note that the company has recently secured registration with the United Kingdom’s Financial Conduct Authority (FCA) in recognition that it meets its anti-money laundering regulations. All signs are there: the company is expanding to European markets with full force.
The announcement also reads:
With the EU taking the lead in building a regulatory framework for digital assets, we’re helping institutions transition from pilots to commercial scale, and we’re bridging the gap between legacy finance and the digital future to unlock trillions in dormant capital.
Moreover, speaking on the matter was Cassie Craddock, VP and Managing Director at Ripple for the UK & Europe, who said:
European customers can now access real-time settlement, global on and off-ramps, and last-mile payouts. And it’s all managed end-to-end using Ripple’s market-
The post Ripple Secures Preliminary Electronic Money Institution License in Luxembourg appeared first on CryptoPotato.
Ripple has secured another license, this time in Luxembourg, showcasing the company’s focus on expanding toward the European market. AA News, Crypto News, Ripple
This articles is written by : Nermeen Nabil Khear Abdelmalak
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