Financial technology firm Ripple has secured approval from the UK’s top financial regulator, clearing the way for an expansion of its platform in the country.
The Financial Conduct Authority granted Ripple approval for its Electronic Money Institution license and crypto asset registration, according to a statement on Friday from the company.
An Electronic Money Institution license allows firms to issue digital money and payment services. Ripple’s registration requires it to comply with anti-money laundering and know-your-customer rules.
“Extending Ripple’s licensing portfolio and payments solution is about more than just efficiency; it is about unlocking trillions in dormant capital and realizing a world where value moves instantaneously,” said Monica Long, president at Ripple, in the statement.
The approvals come as the UK advances plans to establish a comprehensive regulatory framework for crypto. The government intends to regulate crypto assets as financial products by 2027, and as the FCA has said, it will prioritize areas such as stablecoin payments and market integrity.
On Friday, the FCA published a notice saying that it expects to open a formal gateway for crypto asset firms to apply for authorization in September 2026, as it is expected to take on a new regulatory regime in October 2027.
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