Ripple Receives EU MiCA CASP Official License, Can Provide Crypto Services in 30 Countries in the European Economic Area

BlockBeats News, July 6th, Digital asset infrastructure company Ripple announced that it has been granted a Cryptocurrency Asset Service Provider (CASP) license by the Luxembourg financial regulatory authority (CSSF), officially obtaining compliance authorization under the European Union's Markets in Crypto-Assets Regulation (MiCA) framework, allowing it to provide cryptocurrency services in the European Economic Area (EEA) 30 countries.

This formal authorization comes after Ripple received preliminary approval in June this year, meaning its compliant cryptocurrency payment products for financial institutions, enterprises, and commercial customers can now be offered throughout the entire European Economic Area.

Cassie Craddock, Managing Director of Ripple in the UK and Europe, stated that obtaining the CASP license means the company is fully compliant with MiCA requirements and is ready to expand its European operations post-transition period.

This CASP license further complements Ripple's existing European Electronic Money Institution (EMI) license. Currently, Ripple holds over 75 regulatory licenses globally and obtained Cryptocurrency Registration with the UK Financial Conduct Authority (FCA) in January this year.

The final transition period for MiCA ended on July 1st, and the EU officially replaced the previous cryptocurrency licensing systems of member states with a unified regulatory framework. According to data released by the European Securities and Markets Authority (ESMA) on July 3rd, 280 institutions have currently been granted CASP authorization.

Ripple joins the ranks of Kraken, Coinbase, OKX, and Crypto.com as another major cryptocurrency company to receive formal MiCA authorization. In contrast, the world's largest cryptocurrency exchange Binance withdrew its application for a Greek license before the July 1st deadline and is currently awaiting MiCA authorization.