Ripple Acquires EMI License in Luxembourg

On February 2nd, Ripple officially received approval for an Electronic Money Institution (EMI) license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF), as announced in an official statement by Ripple. Last month, Ripple announced the provisional approval of its EU license, but now having met all the conditions required by the CSSF, it has been formally recognized as an EMI within the EU. Cathy Kladac, Ripple's Managing Director, stated, 'Obtaining the official EMI license in the EU is a transformative milestone that reinforces Ripple's position at the heart of European finance.'