Ripple has cleared the first hurdle for a new crypto licence in Europe, receiving preliminary approval on June 23 from Luxembourg’s financial regulator, the CSSF, for a Crypto-Asset Service Provider, or CASP, licence under the EU’s MiCA framework. This Green Light Letter is not the finished licence itself. It is an early regulatory step that signals the regulator is prepared to move forward, subject to final conditions and review.
If Luxembourg grants final authorisation, Ripple would be able to use MiCA’s passporting framework to offer covered crypto-asset services across 30 European Economic Area markets instead of applying country by country. Ripple says that could support the rollout of Ripple Payments for banks, fintechs and corporates across the region. For now, Luxembourg can serve as a base for wider regional operations, with the next checkpoint being whether the CSSF converts this preliminary approval into full authorisation.