Ripple announced on June 23 that it received a preliminary green light from Luxembourg regulators for a crypto-asset service provider license under the EU's MiCA rules. The approval would allow the company to offer stablecoin payment services across the European Economic Area once finalized. The move pairs with a recent investment in African payments firm Flutterwave to expand RLUSD use.
The San Francisco-based company said the Commission de Surveillance du Secteur Financier issued a Green Light Letter for the license. The decision remains subject to final conditions and is not yet full authorization. Ripple plans to combine the MiCA approval with its existing Luxembourg electronic money institution license.
The license would let banks, fintech firms, and corporations in Europe collect, exchange, and distribute fiat money, stablecoins, and other crypto assets through a single integration. Cassie Craddock, Ripple’s managing director for the UK and Europe, noted growing demand from institutions exploring blockchain-based payments.
Separately, Ripple participated in Flutterwave’s Series E round, which valued the Nigerian payments company at $3.2 billion. The partnership aims to integrate RLUSD, Ripple Payments, and the XRP Ledger into Flutterwave’s network for cross-border transfers and remittances in Africa. Reece Merrick, Ripple’s managing director for the Middle East and Africa, said the investment would direct stablecoin flows through the XRP Ledger.
The companies have not disclosed investment size, launch timelines, or specific payment corridors. RLUSD currently has a market value of about $1.62 billion, far below USDT and USDC.
