Ripple is currently registered with the Central Bank of Ireland as a virtual asset service provider. “Once the Regulated Markets in Cryptocurrency Assets (MiCA) comes into effect in late 2024, we will seek to offer our services to customers across the European Economic Area, subject to obtaining other necessary licenses,” the company explained.
Ripple is now registered in Ireland
Ripple announced Tuesday that the Central Bank of Ireland (CBI) has added its Irish subsidiary, Ripple Markets Ireland Ltd., to its list of registered virtual asset service providers (VASPs). The regulator’s website states that the company is registered for anti-money laundering and counter financing for terrorist purposes under Section 106A of the Criminal Justice (Money Laundering and Financing of Terrorism) Act 2010 to 2021.
Announcement Details:
Following registration, Ripple will endeavor to serve customers across the European Economic Area once the Markets in Cryptocurrency Assets Regulation (MiCA) comes into effect at the end of 2024, subject to obtaining other necessary licenses.
The cryptocurrency company established its Dublin office in 2022. Ripple explained that Ireland is increasingly gaining a reputation as an attractive location for companies developing innovative technologies for financial services.
Eric van Miltenburg, Ripple’s Senior Vice President of Strategic Initiatives, said: “Ireland has positioned itself as a supportive jurisdiction for the virtual asset industry and, as a result, has established itself as a great place for companies like Ripple to operate, reinforcing our decision to choose Ireland as our primary destination. EU regulatory basis. “By providing regulatory clarity for the industry, Ireland and the EU are increasing confidence in the digital asset, payments and fintech ecosystems more broadly and demonstrating their commitment to the long-term development of these industries.”
Last October, Ripple’s Singapore subsidiary, Ripple Markets APAC Pte Ltd., secured a Principal Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). In the same year, Ripple obtained the majority of 35 Money Transfer Licenses (MTLs) in the United States.
Additionally, the Dubai Financial Services Authority (DFSA) approved the use of XRP within the Dubai International Financial Center (DIFC) last November. This approval will allow DIFC’s licensed crypto companies to integrate XRP into their virtual asset services.
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Source: Bitcoin.com