Ripple has officially obtained its Crypto Asset Service Provider (CASP) license from the European Securities and Markets Authority (ESMA), marking a significant milestone for the company and the broader cryptocurrency sector in the European Union. With this addition, the total number of licensed CASPs in the EU now stands at 294, reflecting a growing regulatory framework for digital assets.
The inclusion of Ripple Payments Europe, Ripple's European subsidiary, alongside other newly licensed firms such as Bison Bank from Portugal and Hrvatska poštanska banka from Croatia, shows the expanding footprint of cryptocurrency services in the region. Ripple confirmed its compliance with MiCA regulations, stating, "We are now fully MiCA-compliant and ready to meet growing European crypto demand." This development aligns with a trend of increased participation from traditional financial institutions in the crypto space.
The recent MiCA updates also highlight the entry of several cooperative banks, including Germany's Volksbank Schwarzwald-Donau-Neckar and Raiffeisenbank Auerbach-Freihung, as well as the private bank Kaiser Partner Privatbank from Liechtenstein, into the regulated crypto market. These institutions join established players like BBVA and CaixaBank from Spain, Commerzbank from Germany, and Standard Chartered Luxembourg, all of which have already received MiCA licensing.
Despite the growth in compliant firms, the ESMA registry has noted no changes in the EMT and ART registers, with currently 21 approved issuers in the EMT category but none in ART. The non-compliance list has also been updated, with two entities, Reversal Investment Group and Kortex, added, raising the total number of non-compliant cryptocurrency businesses to 164. The ongoing interest in MiCA authorizations, particularly highlighted by the Ripple CASP license, signals a solid push for regulated cryptocurrency operations in Europe.
This material is for informational purposes only and does not constitute financial advice.
