Ripple secured preliminary approval for an Electronic Money Institution license from Luxembourg's financial regulator on January 14. The Commission de Surveillance du Secteur Financier issued a "Green Light Letter" to the blockchain company.
This marks the firm's second major regulatory achievement in Europe within less than a week. The United Kingdom's Financial Conduct Authority granted Ripple a full EMI license on January 9.
The British regulator also approved Ripple's registration as a crypto asset service provider. These consecutive approvals enable the company to serve institutional clients across both the UK and the European Union.
The preliminary designation means the CSSF has completed its legal review of Ripple's application. The company must now fulfill specific operational requirements to obtain final authorization.
Once fully authorized, the license will provide Ripple with "passporting" rights to offer services throughout the entire European Economic Area. According to the company's announcement, this adds to a portfolio of more than 75 licenses worldwide.
Ripple initiated its European expansion for the RLUSD stablecoin in July 2025, targeting Luxembourg as its entry point. The "Green Light" status allows the firm to operationalize these plans as crypto companies prepare for the full implementation of the Markets in Crypto-Assets regulation.
Service providers must secure authorization before the transitional period ends on July 1, 2026. Ripple has focused recent efforts on acquiring licenses and building infrastructure rather than pursuing public listings.
Company President Monica Long stated that the firm aims to bridge traditional finance with digital assets to activate unused capital. Ripple uses the XRP Ledger for its cross-border payment solutions.
The European payments market remains competitive as other entities establish operations in the region. Bitstamp secured a MiCA-compliant license in Luxembourg in May 2025.
Circle, the issuer of USDC, established its regulatory base in France. It holds a full EMI license from the Autorité de Contrôle Prudentiel et de Résolution, according to its press room.
This regulatory activity occurs as the stablecoin market reaches $298.3 billion globally. Tether dominates the sector with $177.9 billion in market capitalization, followed by Circle with $72.8 billion, according to RWA.xyz data.
Ripple's stablecoin, RLUSD, currently ranks tenth with a $1.4 billion market cap. The company is advancing the token through regulatory channels.
Ripple Payments has processed over $95 billion in volume since its inception. The platform manages end-to-end value flows for businesses and claims to reach 90% of daily foreign exchange markets.