Ripple secures full MiCA CASP license: the geography of licenses crystallizes

After Circle and BitPanda, Ripple joins the exclusive club of fully MiCA-compliant players. The European institutional channel is taking shape - Binance and Tether remain on the sidelines.

The fact

Ripple announced on July 6, 2026, that it had obtained the full CASP license under the MiCA regulation, issued by the Luxembourg CSSF (Cointelegraph). The regulation has been fully applicable since July 1, 2026, the end of the transitional period open to pre-existing players. Ripple can now market its custody, exchange, transfer, payment services, as well as its stablecoin RLUSD in the 27 member states.

Our analysis

A full MiCA license (as opposed to transitional registrations under Article 143) remains rare: Ripple joins a restricted club including notably Circle and BitPanda. The choice of Luxembourg - a recognized regulator for tokenized funds and pan-European managers - gives Ripple a credible foothold for its institutional ambitions.

Signal: pre-compliant players gain a competitive advantage over Binance (approval still under negotiation) and Tether (outside MiCA, see delisting of USDT by Revolut, ad #882). For Ripple, it is mainly the European entry point for RLUSD - still marginal compared to USDC - and the On-Demand Liquidity payment corridors.

To watch

• RLUSD volumes at J+90 vs USDC on the European channel.
• BaFin / AMF decisions on crypto retail advertising.
• Binance / Tether status in Q3 2026: last lock of a unified CASP market.