XRP Price Rises as Ripple Secures Another Elite Regulation in Europe
XRP price rose after reports emerged that Ripple received initial approval for an Electronic Money Institution (EMI) license in Luxembourg.
This regulatory achievement marks another important step for the blockchain-based payment company as it expands its presence across Europe.
Ripple's Strategy in Europe Becomes Clearer and XRP Is on Track
Ripple revealed that Luxembourg's financial authority, Commission de Surveillance du Secteur Financier (CSSF), has granted initial "green light" for the EMI license, though several other requirements still need to be met.
If completed, this authorization will allow Ripple to offer regulated payment services, including stablecoins and other digital assets, across the entire European Union through a passporting system, using Luxembourg as their regulatory base.
