Ripple receives preliminary approval for a cryptocurrency service provider license in Luxembourg

According to official news, Ripple announced that it has received preliminary approval for a crypto asset service provider license issued by the Luxembourg Financial Supervisory Authority, paving the way for the launch of Ripple Payments in the European Economic Area and full compliance with MiCA standards. This preliminary approval will take effect after the final conditions are met.

Combined with Ripple's existing electronic money institution license, European financial institutions can access Ripple's crypto asset and stablecoin payment infrastructure through a single integration.