RIPPLE Obtained another licence from Europe
Crypto financial services company Ripple announced that Luxembourg has received pre-approval for the Electronic Money Corporation (EMI) license from the financial regulatory agency CSSF.
This announcement came just days after Ripple announced that it had received EMI license approval from the UK Financial Conduct Authority. Luxembourg approval, presented as a “Green Light Letter,” is a key step towards full EMI authorization and strengthens Ripple's ability to expand its cross-border payment infrastructure across Europe.
Ripple President Monica Long said, “By expanding Ripple's license portfolio and developing our payment solution, we're doing more than just transferring money. We manage the end-to-end value flow to release trillions of dollars of idle capital and carry traditional finance into a digital future," he said.
Along with the UK license, Ripple currently has more than 75 regulatory licenses worldwide. The company stated that the Ripple Payments platform has spread to more than 90% of the daily foreign exchange markets and has achieved a transaction volume of more than $95 billion to date.
