Ripple has announced the establishment of a new legal entity in Luxembourg, which marks a step towards launching the RLUSD stablecoin in Europe. This initiative allows Ripple to expand its operations in the stablecoin market.
Establishment of Ripple Payments Europe SA
Ripple has created a local entity, Ripple Payments Europe SA, and is now preparing to apply for an Electronic Money Institution (EMI) license, providing RLUSD with passporting rights across all 30 EEA countries.
Luxembourg as a Strategic Choice
The choice of Luxembourg is driven by Ripple's focus on working with regulators rather than circumventing them. The country offers a well-connected financial ecosystem and key banking partners like BNY Mellon, facilitating compliance with MiCA's stringent reserve and transparency rules.
Global Prospects for RLUSD
RLUSD is gaining recognition beyond Europe; for instance, it has been acknowledged in Dubai as a compliant digital token. Ripple is also partnering with Alchemy Pay to expand fiat on-ramps into over 170 countries. The stablecoin is available on multiple exchanges, including Bitstamp and Kraken, with a supply surpassing $500 million.
Ripple continues to advance the RLUSD stablecoin, positioning it as a fully compliant cross-border digital dollar for international transactions, potentially transforming the stablecoin market.
