Ripple Wins EU MiCA License As July 1 Deadline Looms

Ripple has acquired a preliminary crypto asset service provider (CASP) license in Luxembourg, making it compliant with the European Union’s Markets in Crypto-Assets (MiCA) regulations ahead of a July 1 deadline.

In a statement on Tuesday, Ripple said that once its CASP is finalized, it would be able to provide regulated cryptoasset services to financial institutions and businesses across the 30-member European Economic Area (EEA).

Combined with Ripple’s existing EU Electronic Money Institution (EMI) licence, the CASP license means that European banks, fintechs, and businesses can access Ripple’s full cryptoasset and stablecoin payments infrastructure through a single integration, the company said. The two licenses, when finalized, will make Ripple fully MiCA compliant.

“MiCA has helped to unlock a new wave of institutional digital assets adoption, and we are seeing that demand accelerate across the region,” said Cassie Craddock, managing director, UK and Europe, at Ripple. “Financial market infrastructure is moving onchain — from cross-border payments and settlement to collateral management and tokenised assets — and banks and fintechs are actively building the digital asset capabilities they need to remain competitive. With our growing European presence, regulatory track record, and institutional-grade infrastructure, we’re ready to meet the moment and support that transition at scale.”

Noting that Europe is already a “leading region” for its products, Ripple said the new license will allow it to “expand into broader cryptoasset activities in the region” with a client base that includes some of the largest financial institutions.

Ripple’s core business is fast and cheap cross-border payments via the XRP Ledger, as well as digital asset custody and stablecoin infrastructure. In December 2024, Ripple launched its own stablecoin, RLUSD, which has a market capitalization of $1.6 billion.

Ripple’s MiCA license comes as a huge majority of the EU’s 3,000 registered virtual asset service providers (VASPs) have yet to win the CASP licenses necessary to continue operating after July 1. As of May, just 194 had qualified as MiCA CASPs, according to global law firm Hogan Lovells.

This isn’t just a matter of the smaller firms being locked out of the EU market. Binance, the largest global crypto exchange, is likely to have its CASP license rejected by Greek authorities, Reuters reported last week.