Blockchain company Ripple (XRP) has entered the process of obtaining an electronic money (e-money) license in Luxembourg for full-scale entry into the European Union (EU) market. As Luxembourg steps up its crypto-friendly policies, Ripple is also accelerating its expansion plans on the continent. “We are extremely excited about our future within the EU,” Ripple’s Chief Legal Officer (CLO) Stuart Alderoty said after his meeting with Luxembourg Finance Minister Gilles Roth. This meeting took place as part of Ripple's efforts to obtain an e-money institution license from Luxembourg. If granted, the company will be authorized to offer financial services throughout the European Economic Area (EEA). Alderoty stated that Ripple intends to use the region as a strategic expansion base, saying, “The EU pioneered a comprehensive legal framework for digital assets with its MiCA (Markets in Crypto-Assets) regulation.” Related News: Despite the Government Shutdown in the US, Two Internal Sources Provided Positive News for Cryptocurrencies The Luxembourg government is also taking a proactive stance in this process. Following the meeting, Finance Minister Roth shared the following on social media: “We discussed Ripple's vision for Europe and Luxembourg and reaffirmed our commitment to digital innovation.” The meeting follows Luxembourg's recent decision to invest 1% of its sovereign wealth fund in cryptocurrencies. This move marks the first time a European state has officially adopted Bitcoin (BTC) as an asset class and is expected to accelerate the shift in cryptocurrency sentiment across the continent. Ripple's European strategy isn't limited to Luxembourg. Earlier this year, the company established a separate legal entity in the country and partnered with Spanish bank BBVA for digital asset custody services. In May, its MiCA-compliant Euro stablecoin, the Schuman Financial Euro, was launched on the XRP Ledger. *This is not investment advice. Continue Reading: Ripple’s (XRP) European Expansion: Deal Signed
