What exactly did Ripple get approved for?

On June 23, 2026, Luxembourg’s financial regulator, the CSSF, issued Ripple a preliminary Crypto Asset Service Provider (CASP) license under the EU’s Markets in Crypto-Assets (MiCA) regulation. The approval, in the form of a “Green Light Letter,” is subject to final conditions, and will enable Ripple to scale regulated cryptoasset services to financial institutions and businesses across all 30 countries of the European Economic Area.

Here’s the catch: this is a company-level license, not a token approval. $XRP the asset didn’t “get approved” to do anything — MiCA licenses are granted to service providers, not to coins. Combined with Ripple’s existing EU Electronic Money Institution (EMI)…