- Luxembourg’s CSSF granted Ripple a full Crypto Asset Service Provider license under the EU’s MiCA framework, announced July 6.
- The authorisation lets Ripple offer regulated crypto services across all 30 European Economic Area countries from a single license.
- It upgrades a preliminary approval from June and lands days after MiCA’s transitional grace period ended on July 1.
Ripple Labs received a full Crypto Asset Service Provider license from Luxembourg’s Commission de Surveillance du Secteur Financier, the company said on July 6, making it one of a small group of firms fully authorised under the European Union’s MiCA rulebook and clearing the way for a regulated expansion across the region.
The authorisation allows Ripple to passport its regulated crypto services across all 30 countries in the European Economic Area from a single Luxembourg base.
The company said the license covers an end-to-end regulated crypto payments product aimed at financial institutions, corporates and businesses.
The full license upgrades a preliminary approval the CSSF granted in June, completing Ripple’s path to MiCA compliance. The company said it also holds an EU electronic money institution license and characterised the CASP authorisation as one of more than 75 regulatory approvals it holds worldwide, a figure attributed to Ripple.
This CASP authorisation means Ripple enters the post-transitional MiCA era fully compliant and ready to scale.
Cassie Craddock, managing director for UK and Europe at Ripple.Related: Standard Chartered Predicts Morpho Could Hit $60 by 2030, Outpacing Bitcoin and Ether
A Post-Deadline Landscape
MiCA’s transitional grace period expired on July 1, requiring any provider without a CASP license to stop serving EU clients.
Luxembourg has emerged as a favored entry point for crypto firms seeking MiCA authorisation, offering an established financial regulator and direct access to the single market.
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