Ripple remains one of few crypto exchanges to obtain a full Markets in Crypto Assets (MiCA) licence, which it requires to operate across the bloc
Ripple has received preliminary approval for a European regulatory licence as it bids to operate its blockchain-based crypto payment services across the European Union (EU).
The company announced today (23 June) it received preliminary approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) to operate as a Crypto Asset Service Provider (CASP).
Ripple received a ‘green light letter’ from the European regulator confirming its preliminary approval for a CASP licence, with its latest application compliant with the Markets in Crypto Assets Regulation (MiCA).
Obtaining green light clearance enables Ripple to onboard European institutional partners in preparation for market entry into European Economic Area (EEA) countries.
While Ripple’s MiCA application is subject to final conditions, a full licence will allow the company to provide European banks and fintechs its full range of cryptoasset and stablecoin payments services and infrastructure via a single integration.
While still subject to final conditions, Matthew Osborne, UK and Europe Head of Policy, said of Ripple’s preliminary approval: “We’re grateful to the CSSF for its constructive approach throughout the licensing process.
“Luxembourg has established itself as a leading centre for financial services regulation in Europe, combining deep supervisory expertise with a clear, proportionate framework for digital assets – making it the natural regulatory home for Ripple’s European operations.”
What a full MiCA licence means for digital assets providers
A full MiCA licence enables a company like Ripple to operate in all 30 EEA countries if it receives regulatory approval by only one local authority.
This is because of the EU’s Passporting Rights, which allows MiCA authorised companies to scale their operations and offer services across the EEA.
The fully operational licence allows authorised companies, such as crypto exchanges, stablecoin issuers and crypto asset payment providers to offer its range of services. These services include trading to custody for exchanges, to end-to-end payment capabilities and stablecoin issuance.
MiCA was first introduced and enforced in June 2023 primarily as a reaction to the lack of regulations around crypto and blockchain. It also came in the midst of two high-profile collapses in FTX and TerraLuna which saw the market significantly decline and investors lose billions of investments, raising questions among policymakers regarding consumer protection.
For Ripple, a full MiCA licence would complement its Electronic Money Institution (EMI) licence it received from the CSSF in February 2026. It also obtained an EMI licence from the UK Financial Conduct Authority in the UK in January 2026.
In total, Ripple holds more than 75 regulatory licences across the world, including in the United Arab Emirates, Singapore, and the US.
European approval would enable Ripple to scale Ripple Payments – an end-to-end cross-border payment platform – to more institutional clients. The crypto and stablecoin payments service manages funds on behalf of the customer, connecting them to a global payout network to settle funds on the blockchain with enhanced speed and transparency.
Cassie Craddock, Managing Director, UK and Europe at Ripple, said: “Financial market infrastructure is moving on-chain – from cross-border payments and settlement to collateral management and tokenised assets – and banks and fintechs are actively building the digital asset capabilities they need to remain competitive.
“With our growing European presence, regulatory track record and institutional-grade infrastructure, we’re ready to meet the moment and support that transition at scale.”
Who has a MiCA licence, and who hasn’t
The EU has set a transitional deadline for 1 July 2026 for companies to become fully MiCA authorised.
If crypto and digital asset companies are operating in Europe without an authorised MiCA licence, they are considered to be operating illegally and could face fines, website closures, and criminal charges.
There are currently over 200 MiCA authorised companies. This includes crypto exchanges such as Coinbase, Crypto.com, Kraken, OKX and Bitstamp. Stablecoin issuers Circle and Banking Circle have authorisation to issue stablecoins classified as e-money tokens (EMTs) or asset-referenced tokens (ARTs).
The most prominent crypto exchange yet to receive full MiCA authorisation before the 1 July deadline is the world’s largest exchange, Binance.
A recent report revealed Binance’s MiCA application is set to be rejected despite its EU regulator, Greece’s Hellenic Capital Market Commission (HCMC), revealing it is MiCA compliant after review.
Tether, the issuer of the world’s largest stablecoin USDT, will also likely not be MiCA compliant by the 1 July as it has already criticised stablecoin guidelines within the framework.
