Ripple has secured preliminary approval for a Crypto Asset Service Provider (CASP) license in Luxembourg from the CSSF regulator under the EU's MiCA framework. Once finalized, the license will enable Ripple to offer regulated crypto and stablecoin services across all 30 EEA countries. The approval, which complements an existing EMI license, comes ahead of a July 1 MiCA deadline. Despite the milestone, XRP's price fell as retail holders questioned the benefit to them.
Luxembourg MiCA license approval
- ▪Ripple's Head of Policy for UK & Europe, Matthew Osborne, credited Luxembourg's regulator for its "deep supervisory expertise" and "clear, proportionate framework."
- ▪Other crypto firms, including Coinbase, Bitstamp, and Standard Chartered, have also chosen Luxembourg as their MiCA licensing hub
- ▪The approval was granted under the European Union's Markets in Crypto-Assets (MiCA) regulation
- ▪The preliminary approval was issued as a "Green Light Letter" and is subject to final administrative conditions before being finalized
- ▪Ripple received preliminary approval for a Crypto Asset Service Provider (CASP) license from Luxembourg's regulator, the Commission de Surveillance du Secteur Financier (CSSF)
European regulatory expansion
- ▪Ripple employs around 200 people across its European operations, which include offices in London, Luxembourg, and an engineering hub in Geneva
- ▪The CASP license complements Ripple's existing Electronic Money Institution (EMI) license, which was issued in February 2026
- ▪The European Union's MiCA rules for crypto firms have a full application deadline of July 1, 2026
- ▪The combined licenses will allow European financial institutions to access Ripple's crypto-asset and stablecoin payments infrastructure through a single integration
- ▪The MiCA framework allows companies with a license in one EU state to operate across the entire bloc via a "passporting" system
- ▪Once finalized, the CASP license will allow Ripple to offer regulated services across all 30 countries of the European Economic Area (EEA)
- ▪Ripple now holds over 75 regulatory licenses globally, including a UK license from the Financial Conduct Authority received in January 2026
XRP price performance
- ▪Some XRP community members expressed frustration that Ripple's regulatory achievements do not benefit retail XRP holders
- ▪Ripple states that its RLUSD stablecoin and XRP are complementary, with XRP acting as a bridge asset where stablecoins are not viable
- ▪These holders are concerned that Ripple's payment flows will primarily use its RLUSD stablecoin instead of XRP
- ▪On June 23, 2026, following the announcement, the price of XRP was trading around $1.10, down approximately 3%
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