XRP (CRYPTO: XRP) is up 3% over the past 24 hours as three catalysts are converging that could drive a 70% rally back toward July’s $3.65 peak.
Reason 1: Ripple Secures Luxembourg EMI License For EU Expansion
Ripple just got preliminary approval to operate as a licensed payment company across all 27 European Union countries.
Luxembourg’s financial watchdog, the Commission de Surveillance du Secteur Financier, issued a so-called “green light letter” Tuesday, effectively clearing Ripple to proceed with its final licensing steps.
This matters because it lets Ripple offer payment services using XRP and stablecoins to banks and financial institutions throughout Europe.
The company already secured similar approval in the UK last year, so now it can legally operate in both major European markets.
Ripple has already processed over $95 billion in payment volume and holds more than 75 licenses across different countries.
The EU approval opens up a massive new market for XRP-based …Full story available on Benzinga.com
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