Ripple, the leading blockchain technology company building digital infrastructure for cross-border payments, has secured a full Crypto Asset Service Provider (CASP) license from the Commission de Surveillance du Secteur Financier in Luxembourg.

 

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The full CASP authorization, announced on Monday, comes shortly after Ripple received preliminary approval from Luxembourg's financial regulator in June. With this license, Ripple is now fully compliant with the Markets in Crypto Assets (MiCA) regulation, enabling it to offer its crypto services to businesses and institutions across all 30 countries of the European Economic Area.

 

"This CASP authorization means Ripple enters the post-transitional MiCA era fully compliant and ready to scale," said Cassie Craddock, Managing Director for the United Kingdom and Europe at Ripple.

 

"The institutions we work with across Europe are looking to build their digital asset services alongside regulated partners, and Ripple is licensed and ready to meet that demand."

 

Ripple now joins a small group of digital asset firms, including Coinbase, Kraken, Crypto.com, Bitstamp, and OKX, that have obtained full authorization under MiCA. The company says it now holds more than 75 regulatory licenses worldwide, in addition to the Electronic Money Institution (EMI) license it secured in February.

 

Elsewhere on the regulatory front, the MiCA July 1 deadline is now fully in effect, with unlicensed digital asset firms required to stop serving clients in the European Union. It is estimated that more than 80 percent of the approximately 1,200 previously registered firms that lacked full licenses by late June have either exited the European Union or restricted their operations there.

 

Ripple's full CASP license comes shortly after the company was named among more than 140 members of the Open Standard consortium, a group of companies collaborating on the launch of OpenUSD (OUSD), a dollar-pegged stablecoin. The company also recently invested in Flutterwave, Africa's largest fintech unicorn.