Once fully authorised, the EMI licence would enable Ripple to provide electronic money and payment services under the EU regulatory framework, supporting the deployment of blockchain-based payment infrastructure for institutional clients operating on a cross-border basis within the EU.
Commenting on the approval, Cassie Craddock, Managing Director, UK & Europe at Ripple, said: “Thanks to the CSSF’s progressive and sophisticated approach to supervision, Luxembourg is establishing itself as a premier hub for financial innovation by providing the harmonised framework and legal certainty that our industry needs. Gaining our preliminary approval is a pivotal step, enabling Ripple to provide essential blockchain infrastructure to clients across the EU.”
The preliminary approval underscores Luxembourg’s role as a jurisdiction offering regulatory clarity and legal certainty for firms seeking to operate regulated payment and financial infrastructure services on a European scale.