Ripple Secured What Most Crypto Firms Couldn’t — Full MiCA Authorization Across 30 Countries

Ripple just secured full Markets in Crypto-Asset (MiCA) authorization in Europe. The San Francisco-based blockchain payments company disclosed Monday it received Crypto Asset Service Provider (CASP) approval from Luxembourg’s financial regulator, the CSSF — clearing it to offer regulated crypto services across all 30 countries in the European Economic Area (EEA).

The approval came just days after MiCA’s transitional period officially expired on July 1 — the date from which any business offering crypto services to European Union (EU) clients without authorization is in breach of law and must stop operating immediately. 

European Banks Can Now Use Ripple 

The CASP authorization builds on an existing EU Electronic Money Institution license the company already held, meaning European banks, fintechs, and businesses can now move both traditional money and cryptocurrency through a single Ripple setup across the entire bloc. 

Combined with more than 75 regulatory licenses held globally, the company is now among a small number of digital asset firms to hold full authorization under the bloc’s new regulatory framework for digital assets.

Cassie Craddock, Ripple’s Managing Director for the UK and Europe said, “This CASP authorisation means Ripple enters the post-transitional MiCA era fully compliant and ready to scale.” 

The executive added that European institutions are actively looking for regulated partners to build digital asset services alongside — and Ripple is now positioned to meet that demand.

Binance Suspended, KuCoin Rejected, Tether Out 

Beyond Ripple, Only 244 MiCA licenses had been granted by late June despite roughly 3,000 applications — a 92% rejection or pending rate that reflects just how demanding the approval process has been. 

Binance, the world’s largest exchange, suspended spot trading, margin trading, and a range of other services in France, Italy, Poland, and Spain after failing to secure MiCA authorization before the July 1 cutoff. 

The company confirmed customer funds remain accessible and withdrawals are available, but users in affected countries who want to continue trading must either wait for Binance to find a path to licensing or move their assets elsewhere.

MEXC remains unauthorized and has drawn a public warning from Dutch regulators. KuCoin was rejected outright in Austria. Tether declined to pursue a MiCA license for USDT at all, leading to its delisting from major regulated exchanges across the EEA. 

Among the firms that did make it through — Kraken, Coinbase, Bitstamp, Bitpanda, OKX, and Crypto.com have all secured full MiCA authorization. On the stablecoin side, Circle’s USDC and EURC are the only top-ten stablecoins currently compliant with the framework.

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