Ripple Secures Key Regulatory Approval Amid XRP ETF Outflows

Ripple has secured a major regulatory green light in Europe after obtaining a full CASP license from Luxembourg's financial regulator, the CSSF. This allows Ripple to offer regulated crypto services across all 30 EU and European Economic Area countries.

The company now holds 75 regulatory approvals globally, but still needs approval for its institutional-grade RLUSD stablecoin as an e-money token in the EU.

XRP exchange-traded funds (ETFs) experienced their first net daily outflow in eight weeks on the same day the license was confirmed. The Bitwise XRP ETF saw a $7.29 million withdrawal, ending a streak of consecutive weekly inflows that had gathered nearly $23 million in June.