Ripple gains preliminary MiCA license ahead of July 1 EU deadline

Ripple secures preliminary CASP approval in Luxembourg ahead of July 1 MiCA deadline as companies race for EU crypto licensing.

Luxembourg's financial regulator granted Ripple preliminary approval for a crypto asset service provider (CASP) license under the European Union’s Markets in Crypto-Assets Regulation (MiCA), the company said Tuesday.

Ripple said in a statement that the approval, once finalized, would allow it to offer regulated crypto services to banks, fintechs and other businesses across all 30 countries in the European Economic Area (EEA) through a single regulatory passport.

The move builds on Ripple's existing Electronic Money Institution (EMI) license in Luxembourg, which allows it to provide regulated cross-border payments and electronic money services across the EEA. The update comes just days before the July 1 transitional deadline, when EU countries begin fully applying MiCA rules.

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