“The EU was amongst the first major jurisdictions to introduce comprehensive digital assets regulation, which provides the certainty financial institutions need to move blockchain from pilots to commercial scale,” said Ripple President Monica Long, in a statement.
“By extending Ripple’s licensing portfolio and evolving our payments solution, we are doing more than just moving money,” she continued. “We are managing the end-to-end flow of value to unlock trillions in dormant capital and moving legacy finance into a digital future.”
Combined with the UK license, Ripple now holds over 75 regulatory licenses worldwide. The firm said that its Ripple Payments platform has expanded to over 90% of daily foreign exchange markets, processing more than $95 billion in volume to date.
"Gaining our preliminary approval is a pivotal step, enabling Ripple to provide essential blockchain infrastructure to clients across the EU,” said Ripple UK and Europe Managing Director Cassie Craddock, in a statement. “By prioritizing compliant operations, Ripple is empowering the region’s businesses to lean into the next era of financial innovation."
