Blockchain company Ripple announced on Monday that it successfully managed to secure a full EU Electronic Money Institution license.
The new license increases the number of official permissions under Ripple’s belt, giving it a stronger operating presence in the EU.
“Securing our full EMI license in the EU is a transformative milestone that reinforces Ripple’s presence at the heart of European finance,” said UK & Europe managing director Cassie Craddock.
“Europe has always been a strategic priority for us, and this authorization allows us to scale our mission of providing robust, compliant blockchain infrastructure to clients across the EU. We are now better positioned than ever to help European businesses transition into a more efficient, digital-first financial era.” she said.
As per the press release, Ripple has more than 75 regulatory licenses in the world. At the time of writing, Ripple shares were trading at $1.64.