Ripple confirms intention to apply for MiCA license for expansion in the European Union

According to Cointelegraph, payment solution company Ripple has clearly stated its intention to apply for a license under the Crypto Asset Market Regulation (MiCA) to expand into the EU market. A Ripple spokesperson stated that the company intends to "comply with MiCA" as it sees "significant opportunities in the European market". This statement was released after Ripple registered Ripple Payments Europe SA in Luxembourg at the end of April. On Tuesday, industry media Ledger Insights reported that Ripple has applied for an electronic currency institution license in Luxembourg. Ripple has neither confirmed nor denied this, only responding that there is currently no update.