On July 6, digital asset infrastructure company Ripple announced that it has obtained a crypto-asset service provider, or CASP, license from Luxembourg’s financial regulator, the CSSF. The approval completes Ripple’s compliance authorization under the EU’s Markets in Crypto-Assets Regulation, known as MiCA, and allows the company to provide crypto-asset services across 30 countries in the European Economic Area, or EEA.
Formal approval follows June in-principle authorization
The formal license comes after Ripple received in-principle approval in June. According to the company, the new authorization means its compliant crypto payments products for financial institutions, enterprises, and commercial clients can now be offered throughout the EEA. Ripple UK and Europe Managing Director Cassie Craddock said receiving the CASP license shows the company is now fully aligned with MiCA requirements and ready to expand its European business after the end of the transition period.
The CASP license also strengthens Ripple’s regulatory footing in the region by adding to its existing EU electronic money institution, or EMI, license. Ripple said it now holds more than 75 regulatory approvals globally. Earlier this year, in January, the company also obtained crypto asset registration from the UK Financial Conduct Authority, or FCA.
MiCA rollout accelerates after transition period ends
MiCA’s final transition period ended on July 1, replacing the fragmented national crypto licensing regimes across EU member states with a unified framework. Data released by the European Securities and Markets Authority, or ESMA, on July 3 showed that 280 entities had already received CASP authorization.
With this approval, Ripple becomes another large crypto company to secure full MiCA authorization, joining Kraken, Coinbase, OKX, and Crypto.com. In contrast, Binance, the world’s largest crypto exchange, withdrew its Greek license application before the July 1 deadline and has not yet obtained MiCA authorization. The divergence highlights how compliance positioning among major crypto firms is becoming more visible as the EU’s unified regime takes full effect.