Ripple has secured a preliminary Crypto Asset Service Provider (CASP) license in Luxembourg under the EU's MiCA regulation.
The CASP license allows Ripple to hold, exchange, and move crypto-assets on behalf of clients, but it is subject to final conditions before becoming fully active.
Ripple already holds an EMI license for handling regular money, which combined with the new CASP license, makes it a first in the European market for offering both cash and crypto services through one connection.
The company sees this as a major win that locks in its European payments business and solidifies its position as one of the most regulated names in crypto.