Ripple receives preliminary authorization for electronic money from Luxembourg's financial regulator.
Ripple has received preliminary approval for an Electronic Money Institution (EMI) license issued by the Luxembourg Financial Sector Supervisory Commission (CSSF). Ripple stated that this move brings it one step closer to obtaining full authorization, which will allow the company to provide regulated payment services for stablecoins and other digital assets across the EU under the passport rules, subject to meeting the remaining conditions.
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