Growing collaboration between traditional finance and blockchain firms like Ripple is driving Europe’s momentum in digital asset adoption. Ripple’s Managing Director for the U.K. and Europe, Cassie Craddock, detailed on social media platform X on Oct. 10 that the European Union’s Markets in Crypto-Assets Regulation (MiCA) has strengthened institutional confidence in blockchain integration.

“MiCA gave European banks and financial institutions [FIs] the confidence to lean into the industry,” Craddock said, adding:

As a result, we now see lots of banks and FIs, such as Societe Generale and BBVA, building out digital asset custody and tokenisation capabilities, working with crypto-natives like Ripple.

However, she noted that despite this progress, “many barriers still remain to fulfill the full potential.”

Craddock explained that tokenization supports the goals of the European Union’s savings and investment union by lowering costs, improving efficiency, and widening access to funding and investment opportunities for businesses.

She cautioned that global competitors are moving quickly to capitalize on blockchain innovation and urged the EU to “move fast and keep up the momentum” to maintain its competitive position. The Ripple executive opined:

We’re really excited about the opportunities for the blockchain industry here in Europe and keen to play our part in building the future of tokenization.

Her comments highlight both optimism and urgency as Europe seeks to consolidate its leadership in digital finance through MiCA’s regulatory clarity and industry collaboration.

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