Global: Ripple wins EMI licence and crypto registration in the UK

The Financial Conduct Authority approvals means that Ripple can expand its licenced payments platform, giving UK institutions the ability to send cross-border payments using digital assets.

Ripple Payments, a licensed, end-to-end cross-border offering, manages the flow of funds on behalf of its customers, connecting them to the firm’s global payout partners for fast, transparent, and reliable payout capabilities around the world.

Ripple says that it handles the underlying blockchain and operational complexity so businesses can launch digital payment services quickly, without taking on the cost or burden of infrastructure management.

Cassie Craddock, MD, UK & Europe, Ripple, says: “Securing approvals from the FCA is a pivotal moment for Ripple, enabling us to provide essential digital assets infrastructure to UK businesses. We have seen in other jurisdictions how regulatory clarity drives adoption, and the UK is poised to take advantage. The opportunity presented by digital assets is colossal and with our new licence, Ripple is ready to help the UK’s businesses seize that opportunity.”

The FCA approval is Ripple’s second big regulatory win in a matter of weeks, following the conditional approval for its application to establish a national trust bank in the United States.