Jakarta, Pintu News – Ripple, a leading company in blockchain technology, recently announced their expansion into the European market with the introduction of the RLUSD stablecoin. Luxembourg was chosen as a strategic entry point under the new MiCA regulation, marking a major step for Ripple in expanding its global reach.
Ripple has chosen Luxembourg as the main entry point for the launch of RLUSD in the European Union. This decision is based on Luxembourg’s position as a significant financial center, which provides access to an extensive global banking network. Ripple Payments Europe SA, which was established in Luxembourg in April, serves as a stepping stone in this expansion process.
The company is in the process of applying for an Electronic Money Institution (EMI) license, which will allow RLUSD to operate across all 30 European Economic Area (EEA) countries. Compliance with MiCA regulations is a priority, demonstrating Ripple’s commitment to working with regulators, not avoiding them.
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Luxembourg offers several advantages that no other country in Europe has. As a financial center, the country has many global banks, including Ripple partner BNY Mellon. This strong banking network is crucial to meeting EU requirements that stablecoin issuers have significant and diverse reserves across multiple institutions.
Moreover, the extensive international banking ecosystem in Luxembourg makes it an attractive option to support RLUSD’s expansion across the region. Although France leads in EMI licenses due to its concentration of systemically important banks, Ripple’s presence in Luxembourg will strengthen its position in the European market.
Outside of Europe, Ripple is also expanding their efforts. In Dubai, RLUSD has been recognized as a crypto token, supporting the city’s image as a growing digital asset hub. The partnership with Alchemy Pay allows users in over 170 countries to purchase RLUSD directly using over 300 local payment methods, significantly reducing the barriers to global crypto participation.
RLUSD has been listed on several exchanges such as Bitstamp, Kraken, Bitget, and Archax, and has reached a supply of over $500 million with a daily trading volume of nearly $94 million. This shows strong initial traction since its launch, marking significant momentum growth for Ripple.
Ripple’s expansion into the European market through Luxembourg and the introduction of RLUSD marks a new era in secure and orderly digital financial transactions. With a strategy focused on regulatory compliance and global expansion, Ripple is setting new standards in the stablecoin ecosystem.
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