Ripple has secured full authorisation as an Electronic Money Institution (EMI) from Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF).
The crypto firm had announced conditional approval last month.
It has since met all regulatory requirements set by the CSSF, which has now granted full EMI status recognised across the European Union.
The EU licence further extends Ripple’s regulatory footprint, following the award last month of an EMI licence and Cryptoasset Registration from the UK’s Financial Conduct Authority.
The firm now holds more than 75 licences globally.
Ripple managing director for UK & Europe Cassie Craddock said: “Securing our full EMI licence in the EU is a transformative milestone that reinforces Ripple’s presence at the heart of European finance.
“Europe has always been a strategic priority for us, and this authorisation allows us to scale our mission of providing robust, compliant blockchain infrastructure to clients across the EU. We are now better positioned than ever to help European businesses transition into a more efficient, digital-first financial era.”
Regulatory progress has been accompanied by fresh capital and deal-making.
In November, Ripple raised $500m at a $40bn valuation.
The investment was led by funds linked to Fortress Investment Group, Citadel Securities, Galaxy Digital, Pantera Capital, Marshall Wace and Brevan Howard.
The company has also been active on the acquisition front over the past year.
In October, it agreed a $1bn deal to buy treasury management systems provider GTreasury.
Earlier in August, Ripple agreed to acquire stablecoin payments platform Rail for $200m.
The deal helped Ripple add Rail’s stablecoin-focused payment infrastructure, including virtual accounts and automated back-office capabilities.
“Ripple gains full EU electronic money licence in Luxembourg” was originally created and published by Electronic Payments International, a GlobalData owned brand.
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