Ripple has received preliminary approval for a CASP license in Luxembourg. According to The Cryptonomist, the decision is formalized in a Green Light Letter and is not a final license; the company still needs to meet additional conditions.
Once fully approved, Ripple Payments will be able to offer regulated crypto asset and stablecoin payment services to banks, fintech companies, and corporations across 30 countries in the European Economic Area. The CASP license will complement Ripple's existing European EMI license. The company claims that Ripple Payments has already processed over $100 billion across more than 60 markets.