Ripple, the company behind the XRP coin, has achieved another special milestone. After receiving a license in the United Kingdom last month, the license has now also been obtained in Luxembourg. This will allow them to roll out their services throughout Europe.
Final license to enter Luxembourg
In a press statement, Ripple announced today that it has definitively received the “Electric Money Institution” license from the financial regulator in Luxembourg.
On January 14, Ripple received preliminary approval, after which it turned out that it had met all the requirements of the CSSF (Commission de Surveillance du Secteur Financier).
With the license, the company can roll out its payment services via the blockchain, such as Ripple Payments and Ripple Treasury, across various European countries. Their goal is to create a robust and legal blockchain infrastructure for banks, fintech and businesses.
Already more than 75 licenses
This license is next in just a short period of time. Last month, Ripple also received such a license in the United Kingdom. The Financial Conduct Authority (FCA) approved the application there, meaning the company can now also offer services there.
Ripple now owns more than 75 licenses in many different countries. With the Luxembourg license, the company can operate directly throughout Europe. A great wish of the company, which sees many opportunities in the continent. However, the question remains in which member state Ripple will start offering its services.
Positive news causes a short rise
The news is positive for the company, because it opens the way for a major expansion. This development was also reflected in the price movements of XRP.
Like the vast majority of the crypto market, the token corrected sharply last weekend. On Saturday, XRP reached its lowest price since November 2024, but today it has recovered somewhat.
Bitcoin (BTC) and other major crypto coins are also recovering somewhat, but XRP is in slightly better shape.
Source: https://newsbit.nl/groot-nieuws-voor-ripple-xrp-bedrijf-krijgt-europese-licentie/
