Ripple is attempting to obtain a payment institution license in Ireland and a crypto asset firm license from the Financial Conduct Authority (FCA) of the UK.
After Obtaining a License in Singapore, Ripple Plans To Expand in the UK and Ireland
Ripple is attempting to obtain a payment institution license in Ireland and a crypto asset firm license from the Financial Conduct Authority (FCA) of the UK.
The recent development of Ripple comes after a partial SEC victory in a well-known case. The FCA confirmed Bitstamp's registration as a digital asset company in June 2023, and MoonPay, Wintermute Trading, and eToro are three more well-known companies that have registered.
Payment companies in Ireland must be approved by the central bank, whose governor, Gabriel Makhlouf, expressed doubt in a blog post in May.
Although Ripple claims that its payment solutions and XRP are independent of one another, the company's connection to the cryptocurrency XRP may provide a barrier. RippleNet, an enterprise blockchain network, is used by many banks, including Santander and the Canadian Imperial Bank of Commerce.
Additionally, Ripple is growing in Singapore, where it was granted permission in June to start providing cryptocurrency and payment services in the nation.
