Overview

• Finance Minister Gilles Roth said after meeting Ripple executives that the company is advancing toward securing a license to operate in Luxembourg.
• Ripple is reported to be pursuing an Electronic Money Institution authorization, though neither the company nor the ministry has confirmed the specific permissions.
• A Luxembourg license could be passported under the EU’s MiCA framework, with the CSSF designated as the competent authority for supervision.
• Ripple has set up a Luxembourg entity, partnered with BBVA on digital custody, and launched the MiCA-compliant Schuman Financial Euro stablecoin on the XRP Ledger.
• Luxembourg’s stance on digital assets has strengthened with its FSIL disclosing a 1% allocation to spot Bitcoin ETFs as part of the 2026 budget.