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Cassie Craddock, CEO and Managing Director of Ripple Labs in the United Kingdom, has spotlighted the firm’s latest achievement in the region. As she revealed on her official X account, these achievements are tied to its regulatory push as a crypto operator.
Ripple secures EMI license
Craddock shared photos of an event at the London Tower Bridge to celebrate the receipt of its EMI Licence and Cryptoasset registration from the U.K.'s FCA.
As she noted, this move will also be complemented by its EU EMI Licence. This, Craddock believes, implies that the bridge between TradFi and DeFi is now officially open. She said that this gap has been bridged and was shown at the Tower Bridge event.
The Ripple executive noted that the era of experimentation is over, and that regulated, institutional-grade production has now been ushered in.
Over the past year, Ripple Labs has made a frantic effort to advance its reach in both the United States, the United Kingdom and the European Union. With product releases and new partnerships like that with Aviva Investors, the firm has continued to penetrate the traditional financial market.
While the U.K. has no defined laws for crypto like MiCAR in the EU, Ripple Labs considers the region a strategic hub to advance its business interests.
Ripple and product development
In order to achieve its broader goal, Ripple has been building its infrastructure to take advantage of the new shift in tokenization.
From updates to the XRP Ledger to regular minting of RLUSD stablecoin, it has continued to compete with existing projects in the industry.
In an earlier report by U.Today, Ripple Labs unveiled its payment services targeted at its traditional banking partners. This service will uniquely integrate XRP, a bridge digital currency it is closely associated with.
In the meantime, the firm and its executives are focused on getting the CLARITY Act passed in the U.S., a move that may further aid its overall payment dominance readiness.
Dan Burgin
U.Today Editorial Team
