Ripple Wins Preliminary Luxembourg License

Key Notes

• The UK Financial Conduct Authority granted Ripple a full EMI license and crypto asset registration on January 9.
• The “Green Light” status confirms legal compliance, though full operational authorization is pending.
• Ripple processes over $95 billion in volume and claims its network reaches 90% of daily foreign exchange markets.

Ripple

XRP
$2.13



24h volatility:
3.2%


Market cap:
$129.03 B



Vol. 24h:
$4.62 B

secured preliminary approval for an Electronic Money Institution (EMI) license in Luxembourg on Jan. 14.

This marks its second major European regulatory milestone in less than a week.

The Commission de Surveillance du Secteur Financier (CSSF) issued a “Green Light Letter” to the enterprise blockchain firm.

This designation indicates that the regulator has completed its legal review of the application. The company must now fulfill specific operational requirements to receive final authorization.

Once fully authorized, the license will grant Ripple “passporting” rights to offer services across the entire European Economic Area.

This adds to a portfolio of more than 75 licenses worldwide, according to Ripple’s announcement.

The Luxembourg milestone arrived just five days after the United Kingdom’s Financial Conduct Authority granted Ripple a full EMI license on Jan. 9.

The British regulator also approved the company’s registration as a crypto asset service provider.

These back-to-back approvals allow the firm to service institutional clients across both the UK and the EU.

European Market Strategy

The license approval validates a long-term regional strategy that began last year.

Ripple initiated its European expansion for the RLUSD stablecoin in July 2025, specifically targeting Luxembourg as its entry point into the bloc.

The “Green Light” status now allows the firm to operationalize those plans as crypto firms prepare for the full implementation of the Markets in Crypto-Assets (MiCA) regulation.

Service providers must secure authorization before the transitional period ends on July 1, 2026.

Ripple has focused its recent efforts on acquiring licenses and building infrastructure rather than pursuing public listings.

Company President Monica Long stated that the firm aims to bridge traditional finance with digital assets to activate unused capital. The firm uses the XRP Ledger for its cross-border payment solutions.

Market Context and Competition

The European payments market remains competitive as other entities establish operations in the region. Bitstamp secured a MiCA-compliant license in Luxembourg in May 2025.

Circle, the issuer of USDC, established its regulatory base in France. It holds a full EMI license from the Autorité de Contrôle Prudentiel et de Résolution, according to its press room.

This regulatory race occurs as the stablecoin market reaches $298.3 billion globally. Tether dominates the sector with $177.9 billion in market capitalization (59%), followed by Circle with $72.8 billion (24%), according to RWA.xyz data.

Ripple’s stablecoin, RLUSD, currently ranks tenth with a $1.4 billion market cap. The company is advancing the token through regulatory channels to challenge these incumbents.

Ripple Payments has processed over $95 billion in volume since its inception. The platform manages end-to-end value flows for businesses and claims to reach 90% of daily foreign exchange markets.

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