What to know:
- Ripple CASP License added as ESMA expands the MiCA register with 14 new crypto firms, bringing the total CASPs to 294.
- Ripple Payments Europe, Bison Bank, and HPB Croatia secured MiCA licenses to offer regulated crypto services across the EU.
- More traditional banks continue entering crypto under MiCA, joining firms like BBVA, Commerzbank, CACEIS Bank, and Standard Chartered Luxembourg.
Ripple CASP License is now one of the notable features of the latest edition of the MiCA Register published by the European Securities and Markets Authority (ESMA). With the addition of 14 more crypto businesses, the overall total number of Crypto Asset Service Providers (CASPs) in the EU has risen to 294. However, the latest addition came following a bigger edition published in July.
Newly licensed companies include Ripple Payments Europe, the European subsidiary of Ripple. With the Ripple CASP License, Ripple becomes one of the increasing number of cryptocurrency companies that are now able to offer regulated services for digital assets within the European Union. The Bison Bank from Portugal and Hrvatska poštanska banka (HPB) from Croatia also became licensed.
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Ripple CASP License Highlights Growing Bank Participation
The recent changes to the MiCA also indicate that more traditional financial organizations are joining the crypto industry in Europe, together with those who get the Ripple CASP License.
The list included Germany’s cooperative banks, Volksbank Schwarzwald-Donau-Neckar and Raiffeisenbank Auerbach-Freihung. The approval was also granted to the private bank Kaiser Partner Privatbank, located in Liechtenstein.
The institutions have joined other financial organizations, which have also obtained MiCA licensing, such as the Spanish BBVA and CaixaBank, German Commerzbank, French CACEIS Bank, and Standard Chartered Luxembourg.
Ripple CASP License Boosts EU MiCA Expansion
Among the significant entries that were made in the CASP registry is the Ripple CASP License; however, the ESMA registry did not register any changes in the EMT and ART registers.
The EMT registry has 21 issuers that have been approved, but there are zero issuers in the ART registry.
The list of non-compliant cryptocurrency businesses was updated by ESMA after the intervention of CONSOB of Italy. Two cryptocurrency-related entities, namely, Reversal Investment Group and Kortex, were added to the list. This brings the total number of non-compliant cryptocurrency entities to 164 on the register.
However, the latest news update reveals that there is still much interest in MiCA authorizations, with the Ripple CASP License, among others, being a clear indicator of how the regulated crypto market in Europe continues to grow despite the fact that regulatory bodies are still watching non-compliant companies.
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