- Ripple targets EU growth by launching RLUSD and pursuing EMI license via Luxembourg.
- Luxembourg offers Ripple regulatory clarity and a strong banking network for MiCA.
- RLUSD gains global traction with $87M daily volume and listings on major exchanges.
Ripple is advancing its European ambitions by launching its RLUSD stablecoin in the European Union, starting with Luxembourg. As the EU’s MiCA (Markets in Crypto-Assets) regulation comes into effect, Ripple is aligning itself for compliance by applying for an Electronic Money Institution (EMI) license through Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF).
This license will allow Ripple to operate across all 30 countries in the European Economic Area (EEA), marking a pivotal step in its global payments vision. RLUSD, Ripple’s stablecoin pegged to the US dollar, is positioned to become a key player in cross-border crypto transactions across Europe.
Luxembourg’s Strategic Edge in EU Regulation
According to Ledger Insights data, Luxembourg stands out as a favorable entry point despite hosting just one other stablecoin issuer. The country’s robust banking infrastructure, which includes global players like BNY Mellon Ripple’s official custody partner offers Ripple the flexibility to meet MiCA’s strict reserve requirements.
Under these rules, stablecoin issuers must hold reserves between 30% and 60% in regulated banks, with additional limits to avoid over-concentration in a single institution. Luxembourg’s extensive banking network simplifies this diversification.
Moreover, Ripple established Ripple Payments Europe SA in April to manage its EU operations. Chris Myers, Ripple’s Senior Counsel for EMEA, is spearheading the EMI licensing process. With Ripple seeking full MiCA compliance, this Luxembourg-based entity is critical to gaining regulatory approval and scaling operations across the continent.
Job Growth and Cross-Border Momentum
Ripple’s recent hiring trends point to a broader global expansion strategy. While the firm is headquartered in San Francisco, it is now recruiting staff in Luxembourg, Geneva, and Toronto. Notably, positions in compliance, anti-money laundering, and stablecoin product control highlight its regulatory-first approach.
Additionally, RLUSD’s global traction is growing. The token is now available on major exchanges like Kraken, Bitstamp, and Archax.
Alchemy Pay has partnered with Ripple to integrate fiat on-ramps, making RLUSD accessible in over 170 countries. This integration supports more than 300 local payment methods, dramatically lowering entry barriers for users.
RLUSD currently boasts over $500 million in supply and over $87 million in daily trading volume. This signals strong early adoption in both institutional and retail markets.
