Two licenses in the viewfinder – Despite the crypto winter, marked in particular by the collapse of FTX, Ripple (XRP) continues to grow and now has its sights on Europe. Just like the Gemini crypto exchangehe hopes to seduce the Irish regulator in order to be able to attack the countries of the European Union.
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Regulatory licensing: Will Ireland bring luck to Ripple?
With an SEC that does not hesitate to attack crypto projects, but which was yet unable to prevent the FTX catastrophe, Ripple is looking for other skies that will be less hostile to it. The goal? Develop more serenely.
In an interview with CNBC in November, Ripple’s lead attorney, Stuart Alderoty, indicated that the bulk of the project’s customers and revenue are “generated outside the United States “. Nevertheless, about half of the 750 employees who work for the company, reside in the land of Uncle Sam.
Ripple would now like to expand its presence in Europe. In this context, he seeks to obtain a Virtual Asset Service Provider (VASP) license with the Irish central bank. Such regulatory clearance would open the doors to other European Union countries to Ripple.
In addition, the company plans to file an application for an electronic money establishment license in Ireland. Currently, Ripple has two employees in the country.
Europe is thus attracting more and more crypto companies, which do not seem to fear the upcoming implementation of the MiCA regulations. Ripple wants to secure a decisive regulatory victory in Ireland. However, he has already tied strategic partnerships in France and Swedencollaborations that will support its conquest of the old continent.
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