Ripple Wins EU-Wide MiCA Passport as ESMA Registers Its Payments Arm

Ripple's European payments subsidiary, Ripple Payments Europe SA, has been added to the European Securities and Markets Authority's (ESMA) latest update to the MiCA register, joining 14 other firms and lifting the number of authorized cryptoasset service providers (CASPs) to 294. The listing grants Ripple a MiCA-based "passport" to offer regulated crypto services across 29 European countries. The authorization follows earlier approvals secured in Luxembourg under the Markets in Crypto-Assets (MiCA) regime. Paired with Ripple's existing Luxembourg electronic money institution (EMI) license, the CASP status enables the company to provide cryptoasset and stablecoin payment services across the European Economic Area. Ripple said banks, fintechs and corporate clients can connect once to collect funds, convert assets and initiate payments, positioning the offering as a way to streamline cross-border flows for institutional users. ESMA's register update also points to rising interest from regulated banks. New additions included Portugal-based Bison Bank, Croatia's state-owned Hrvatska poštanska banka and Liechtenstein's Kaiser Partner Privatbank, signaling that more traditional institutions are pursuing MiCA permissions. Separately, payment processor BitPay said it received MiCA authorization from the Dutch regulator, allowing it to passport crypto and stablecoin payment services into eligible EU markets. While the ESMA list continues to expand, the pace of activity has cooled since MiCA's 18-month transitional window ended on July 1. Even so, new approvals are still emerging. Under MiCA, firms offering covered crypto services must be licensed by a national regulator; once approved, they can operate across participating countries without seeking separate local authorizations. Supervisors are monitoring the next phase closely. AMLA chair Bruna Szego told lawmakers that firms leaving the market after the transition could spark spikes in customer withdrawals, increasing onboarding pressure for licensed providers that must also maintain robust anti-money-laundering (AML) controls. Her warning underscores that Ripple's milestone is operational as well as commercial, with authorized firms expected to absorb incoming clients at scale without weakening compliance. Ripple has also cited prior approvals in the UK from the Financial Conduct Authority. Its European permissions cover payment services and infrastructure that may involve XRP, the XRP Ledger or the RLUSD stablecoin depending on the client and product. For Ripple, the ESMA registration reinforces broader European ambitions and raises the bar on execution and regulatory compliance as the region's crypto market matures.