Ripple Labs has expanded its reach to Ireland, securing regulatory approval to operate there. The Central Bank of Ireland has added Ripple Markets Ireland Limited to its registered Virtual Asset Service Providers list. This move enables Ripple to provide digital asset services within Ireland.
Besides, this change is also a bridgehead for expanding further into the European market. Ripple is looking to eventually extend its offering of services across all regions in Europe once the Markets in Crypto Assets Regulation (MiCA) fully comes into force at the end of 2024.
Ripple’s global regulatory tour has paid off, with Singapore being one of the countries they have undertaken such efforts. In Oct, Ripple acquired a Major Payments Institution license from the Monetary Authority of Singapore (MAS), enabling it to operate locally through its subsidiary company, Singapore-based Arisingonzuiti APAC Pte Ltd
Moreover, Ripple in the United States, for instance, got most of its 35 money transmitter licenses (MTLs) early last year. These licenses are key to Ripple’s ability to provide excellent customer experience. The company’s commitment to regulatory adherence is evident in its focus on compliance and user satisfaction.
Dubai Greenlights XRP: Ripple Global Ascend Continues
XRP gains approval from Dubai’s Financial Services Authority, allowing licensed virtual asset enterprises in the DIFC to integrate XRP into their services. This development opens doors to new regional payments and virtual use cases on the XRP Ledger.
More importantly, Ripple achieves a place at the forefront of digital asset services in key countries across the globe. These milestones highlight Ripple’s strong stance on compliance and its possible role in remodeling international finance. That system is XRP, and its integration could transform the way payments are made on a planetary scale.
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