Ripple has announced yet another critical regulatory victory.
The San Francisco-based enterprise blockchain behemoth has secured preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg's financial regulator, the CSSF (Commission de Surveillance du Secteur Financier).
It comes just one week after Ripple secured a full EMI license and Cryptoasset Registration from the UK’s Financial Conduct Authority (FCA).
Ripple has now locked down both the UK, one of the world's leading economies, and Luxembourg, a premier EU gateway, in rapid succession.
Luxembourg is just a small nation with a population of roughly 677,717. However, its influence should not be underestimated, given that it is the financial heart of the Eurozone for corporate treasury and banking.
An EMI license in Luxembourg is particularly powerful because it typically allows for "passporting."
Ripple now holds over 75 regulatory licenses globally.
Godfrey Benjamin
Gamza Khanzadaev
Arman Shirinyan
Alex Dovbnya