In XRP news today, Ripple has received a preliminary 'Green Light Letter' for its Crypto Asset Service Provider (CASP) license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF), the country's financial regulator, under the EU's Markets in Crypto Assets (MiCA) regulation, announced June 23, 2026.
The approval, still subject to final conditions, covers all 30 countries of the European Economic Area and arrives just eight days before the July 1, 2026, hard deadline, after which unlicensed crypto firms operating in the EU are in breach of MiCA rules.
This positive news for Ripple dropped as XRP fell -2.9% overnight, and is sitting right on support at $1.10 with a daily trading volume of $1.56Bn as the broader market continues to bleed.
What the CASP License Actually Unlocks
The CASP license, which authorizes firms to provide crypto asset services, including exchange, transfer, and custody, on behalf of clients, is the second piece of a two-part regulatory structure that Ripple has been assembling in Luxembourg.
Combined with its existing EU Electronic Money Institution (EMI) license, it means European banks, fintechs, and corporates can access Ripple's full payment stack, collect, exchange, and pay out – through a single integration for the first time.
That combination matters for RLUSD, Ripple's stablecoin, which had grown past $300M in circulation as of Q1 2026, according to DeFiLlama. The paired EMI and CASP authorizations create a pathway for European clients to issue and redeem RLUSD under MiCA's stablecoin framework.
Ripple Payments, the cross-border crypto payments platform underpinning these services, has processed more than $100Bn in volume to date and operates across 60-plus markets globally, according to Ripple.
The approval is preliminary, not final. A Green Light Letter is the CSSF's signal that a firm has met the substantive requirements, but full authorization, and with it, the ability to formally passport services across the EEA, follows only once all remaining conditions are satisfied. Ripple went through this same two-step process with its EMI license: Green Light in January 2026, full authorization by February 2, 2026.
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MiCA's CASP rules became effective on December 30, 2024, with a transitional period until July 1, 2026. By mid-2026, around 83% of EU crypto firms had not secured MiCA licenses, leaving Ripple among approximately 210 compliant firms and giving it a competitive edge in EU institutional crypto regulation.