$XRP surges as Ripple lands major license
Ripple secures a preliminary license approval in a European country.
Anand Sinha15 hours ago
The price of $XRP climbed roughly 3% in 24 hours as Ripple secured a regulatory license in another major European country.
Ripple announced on Jan. 14 that the blockchain technology and crypto company has secured a preliminary Electronic Money Institution (EMI) license approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).
CSSF is a regulatory body in Luxembourg that oversees the financial sector in the Western European country.
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Ripple president Monica Long said, “By extending Ripple’s licensing portfolio and evolving our payments solution, we are doing more than just moving money. We are managing the end-to-end flow of value to unlock trillions in dormant capital and moving legacy finance into a digital future.“
Cassie Craddock, Ripple's Managing Director, UK & Europe, said, "Thanks to the CSSF’s progressive and sophisticated approach to supervision, Luxembourg is establishing itself as a premier hub for financial innovation by providing the harmonised framework and legal certainty that our industry needs."
Gaining our preliminary approval is a pivotal step, enabling Ripple to provide essential blockchain infrastructure to clients across the EU."
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