Blockchain-based company Ripple has been granted a Cryptoasset Service Provider (CASP) license by the Luxembourg regulator CSSF, completing the process of complying with European MiCA requirements. This permit paves the way for the launch of regulated crypto-payment products in all 30 countries of the European Economic Area. The receipt of CASP was the final step after preliminary approval in the form of a Green Light Letter issued on 23 June.

Ripple’s managing director in Europe, Cassie Craddock, has stated that the company is entering the "post-transition era of MiCA" as a fully compliant market participant. The new authorization complements the existing EMI license to issue e-money, making Ripple one of the few crypto firms with a full set of permissions within MiCA. The company’s global portfolio now includes more than 75 regulatory licenses worldwide.

Announcement timed to the end of transition period MiCA: from 1 July, companies without license are required to stop serving European customers. There are currently just under 40 crypto providers registered in the CSSF registry, including Standard Chartered, FalconX and Sygnum Europe. Ripple plans to offer the European payments market, treasury services and liquidity based on RLUSD stablecoin and XRP cryptocurrencies.