RIPPLE $XRP TO PURSUE MICA LICENSE FOR EU EXPANSION
💥 JUST IN: Ripple is set to pursue a MiCA license to support its crypto and stablecoin expansion across the European Union. https://t.co/G55LYbJGPb
🔥 JUST IN: Ripple plans to seek a MiCA license for EU crypto and stablecoin expansion. https://t.co/yfB3His5Ue
Ripple Labs said it intends to apply for an electronic money licence in Luxembourg, positioning the company to operate under the European Union’s new Markets in Crypto-Assets (MiCA) regime. The move would give Ripple the regulatory footing needed to issue and distribute digital assets, including stablecoins, across the bloc once MiCA’s rules for issuers take full effect. With the licence in hand, the company plans to roll out its Ripple USD (RLUSD) stablecoin throughout Europe. Ripple has selected Bank of New York Mellon as the primary custodian for the reserves backing RLUSD, according to the company. MiCA’s issuer provisions begin phasing in this year, making regulatory compliance essential for any firm seeking continent-wide stablecoin operations.
