Ripple secures preliminary MiCA approval from Luxembourg regulator
The CASP license, paired with an existing EMI licence, enables European institutions to access Ripple’s payment stack and facilitates RLUSD stablecoin operations under the new regulatory framework.
Ripple has received a preliminary ‘Green Light Letter’ for its Crypto Asset Service Provider (CASP) licence from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), the country’s financial regulator. The approval, issued under the EU’s Markets in Crypto Assets (MiCA) regulation, covers the European Economic Area and arrives just eight days before the 1 July 2026 hard deadline for compliance.
The CASP licence, which authorises firms to provide crypto asset services including exchange, transfer, and custody on behalf of clients, represents the second pillar of Ripple’s regulatory structure in Luxembourg. It complements the company’s existing EU Electronic Money Institution (EMI) licence, a status for which it received a Green Light in January 2026 and full authorisation by February of that year.
Together, these paired authorisations allow European banks, fintechs, and corporates to access Ripple’s full payment stack through a single integration. This infrastructure supports the issuance and redemption of RLUSD, Ripple’s stablecoin, under MiCA’s stablecoin framework. According to DeFiLlama data, RLUSD circulation had surpassed $300 million by the first quarter of 2026.
The approval places Ripple among approximately 210 firms that have achieved MiCA compliance by mid-2026. Industry data indicates that around 83% of EU crypto firms had not yet secured licences at that time, leaving the majority of the sector in breach of MiCA rules after the July deadline. Ripple’s cross-border payments platform has processed more than $100 billion in volume to date across 60-plus markets globally.
Market reaction to the news was muted, with XRP falling 2.9% overnight to trade near support levels at $1.10. The token recorded a daily trading volume of $1.56 billion as the broader market experienced downward pressure. The CSSF’s Green Light Letter signals that Ripple has met substantive requirements, though full authorisation remains subject to the satisfaction of final conditions.
Ripple’s licensing strategy has resulted in over 75 global regulatory licences, including a Cryptoasset Registration from the UK’s Financial Conduct Authority (FCA) in January 2026. Additionally, Ripple’s European partner, AMINA EU, received its CASP licence from Austria’s Financial Market Authority in October 2025, further expanding the company’s institutional footprint in the region.
