Ripple Payments Among 14 New Crypto Firms Added to MiCA Register by ESMA
Highlights
- Ripple Payments Europe SA becomes an authorized crypto asset service provider in EU.
- The payments firm was added to MiCA Register along with 14 other companies.
- Ripple has already secured full MiCA compliance and looks to scale its crypto services across EU.
European Securities and Markets Authority (ESMA) has added Ripple Payments Europe among 14 new crypto firms to its MiCA register. This brings the total number of licensed crypto asset service providers (CASPs) to 294.
ESMA Adds Ripple Payments Europe as CASP to MiCA Register
Ripple Payments Europe SA, the European payments arm of blockchain company Ripple, is now a licensed crypto service asset provider in the EU bloc. The firm can now offer its crypto services in 29 EU countries.
The payment subsidiary was added to the MiCA Register along with 14 other companies by the European Securities and Markets Authority (ESMA).
After the latest updated MiCA register, the total number of approved CASPs has increased to 294. However, new licensing activity slowed noticeably after MiCA’s transitional period ended on July 1.
The other new CASPs include Portugal-based Bison Bank, Croatia’s state-owned bank Hrvatska postanska banka, and Kaiser Partner Privatbank. This indicates that various banks and traditional finance (tradFi) have applied for a CASP license under the MiCA regulation.
Notably, BitPay is the latest to secured a MiCA license from the Netherlands’ financial regulator. This would help the firm expand crypto and stablecoin payments across the EU.
Crypto Payments Giant Becomes MiCA Compliant
As CoinGape reported earlier, Ripple became a fully authorized Crypto Asset Service Provider (CASP) in Luxembourg. The license under the Markets in Crypto Assets (MiCA) regulation enabled Ripple to scale its crypto services to financial institutions and businesses across all 30 countries of the European Economic Area.
Notably, the CASP license and the existing electronic money institution (EMI) license in Luxembourg initiate full access to Ripple’s full cryptoasset and stablecoins payments infrastructure. European banks, fintechs, and corporates can collect, exchange, and pay out via a single integration for the first time.
This follows other European regulatory approvals, including a license from the UK FCA and partnerships in the EU region. This strengthens real-world use cases for Ripple-linked XRP, XRPL, and RLUSD.
To find platforms that already comply with these strict EU guidelines, traders can refer to the compiled list of the best MiCA regulated crypto exchanges in Europe.
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