Ripple Labs is making bold moves to bring its U.S. dollar-backed stablecoin, RLUSD, into Europe. In a recent update , the blockchain company confirmed that Luxembourg is the first stop in its strategy to expand across the European Economic Area (EEA). This move is part of a broader plan to expand Ripple’s presence across Europe and bring easy crypto trading into the mainstream financial system . Ripple Sets Up A New Base in Luxembourg In April, Ripple set up Ripple Payments Europe SA in Luxembourg. This marked the official start of the company’s European journey. The new office is now preparing to apply for an Electronic Money Institution (EMI) licence. If approved, this licence will allow RLUSD to operate in all 30 EEA countries without needing separate licenses in each nation. Ripple believes Luxembourg is the ideal location to initiate its expansion plans. It is a well-known financial hub, home to many international banks, including Ripple’s partner, BNY Mellon. This network of banks will help Ripple meet EU rules that require stablecoin issuers to hold large and diverse reserves. Ripple’s progress with RLUSD comes at a time of significant changes for the stablecoin market. In the U.S., the recent approval of the GENIUS Act may lead to more explicit national rules. In Europe, MiCA is establishing a unified legal framework that fosters innovation while safeguarding user interests. Ripple to Work Closely with Regulators Ripple has made it clear that it wants to grow within the rules. A company spokesperson stated that the firm sees great potential in Europe and plans to fully comply with the EU’s new MiCA regulation . This law is designed to improve safety and clarity in the digital asset space. It also requires stablecoins like RLUSD to meet strict reserve and reporting standards. Chris Myers, EMEA Senior Counsel based in Luxembourg, is leading Ripple’s efforts on the ground. He is guiding Ripple’s new company through the complex licensing process while working closely with Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). Global Moves and Growing Adoption Ripple is not stopping in Europe. RLUSD has also been recognized as a crypto token in Dubai, a city quickly becoming a global hub for digital assets. At the same time, Ripple has teamed up with Alchemy Pay to improve access to RLUSD worldwide. This partnership allows people in over 170 countries to buy RLUSD directly using local payment methods. With over 300 payment options now supported, more people can join the crypto economy without needing to go through complex exchanges. Since its launch, RLUSD has gained massive traction . It is already listed on Bitstamp, Kraken, Bitget, and Archax. According to data from CoinMarketCap, the stablecoin now has a supply of over $500 million and sees nearly $94 million in daily trading volume. The post Ripple Sets Sight on Europe Expansion For RLUSD Stablecoin appeared first on TheCoinrise.com .
