TechFlow reports on January 14, according to Coindesk, Ripple has received preliminary approval from Luxembourg's financial regulator (CSSF) for an Electronic Money Institution (EMI) license, marking a significant step in the company's expansion of regulated cryptocurrency and stablecoin payment services within the European Union.
The EMI license will allow Ripple to use Luxembourg as a base to provide regulated payment services involving stablecoins and other digital assets across the EU through passporting rights. Additionally, Ripple is applying for a Crypto Asset Service Provider (CASP) license under the EU's Markets in Crypto-Assets Regulation (MiCA) to align its operations with the new regulatory framework.
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