Ripple has taken another step into the UK market after its local subsidiary secured regulatory approval from the Financial Conduct Authority. This move strengthens its compliance current standing but still leaves parts of the crypto business on hold.
Ripple secures EMI status in the UK
Ripple Markets UK has been granted registration as an Electronic Money Institution by the FCA, according to official records. The approval also places the subsidiary under the UK’s Money Laundering Regulations, allowing it to operate within the country’s regulated payments framework.
An EMI license allows firms to provide payment services and issue electronic money. For Ripple, this matters as the company continues to expand around payments infrastructure and its dollar-backed stablecoin, Ripple USD (RLUSD), even as global regulators tighten oversight of crypto-linked financial services.
Approval comes amid tighter UK crypto rules
The FCA recently outlined its roadmap for a broader crypto licensing regime which has prompted firms that are currently registered under money laundering rules to apply for full authorization under the Financial Services and Markets Act by October 2027.
The transition is expected to reshape how crypto firms and businesses operate in the UK. For Ripple, early engagement with regulators could offer an advantage as the country moves toward a more formalized framework for digital asset businesses.
Restrictions still apply to Ripple’s UK operations
Despite the regulatory win, Ripple Markets UK is not yet cleared to roll out all services. FCA records show the company cannot offer services to retail clients, operate crypto ATMs, or appoint agents or distributors without prior written approval.
The subsidiary is also restricted from issuing electronic money or providing payment services to consumers, micro-enterprises, or charities at this stage. Any expansion into those areas will require additional regulatory sign-off.
Ripple remains private despite growing valuation
The FCA approval follows recent comments from Ripple Labs president Monica Long, who said the company has no plans to pursue an initial public offering anytime soon. Ripple’s latest fundraising round valued the firm at $40 billion.