Abu Dhabi regulator approves Ripple’s RLUSD stablecoin for institutional use

Legal expert Bill Morgan has highlighted that Ripple's inability to promote XRP over the years was primarily due to its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which has now reached a resolution. This legal clarity allows Ripple to shift its focus towards promoting XRP without regulatory constraints.

XRP, the cryptocurrency associated with Ripple, has stabilized above the 200-day moving average, indicating a potential bullish reversal as it maintains a position around $2.08, approximately 15% above its lowest level this year. This stability follows a period of volatility and profit-taking in the market.

Ripple has received preliminary approval for an Electronic Money Institution license from the Commission de Surveillance du Secteur Financier in Luxembourg, marking a significant step in its expansion strategy across Europe. This early nod is seen as a crucial development for the company as it seeks to enhance its operational capabilities within the European market.

Ripple has secured its second regulatory approval in Europe within a week, receiving preliminary approval for an Electronic Money Institution license from the Commission de Surveillance du Secteur Financier in Luxembourg. This milestone is part of Ripple's strategy to expand its operations across the European market.

Ripple is positioning XRP and its RLUSD stablecoin as institutional-grade infrastructure, aiming for significant acquisitions and custody solutions by 2025-2026 to enhance adoption among financial institutions.

Ripple has received preliminary approval from the Commission de Surveillance du Secteur Financier (CSSF) for an Electronic Money Institution (EMI) license in Luxembourg, marking a significant step in its expansion strategy across Europe. This license will enable Ripple to offer regulated crypto and stablecoin payment services throughout the EU.