Ripple Launches RLUSD Stablecoin in EU with Luxembourg as Key Hub
Ripple is set to introduce its RLUSD stablecoin in the European Union, beginning with Luxembourg, as part of its strategy to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations.
RLUSD Targets EU Market via Luxembourg
Ripple has chosen Luxembourg as the launchpad for its RLUSD stablecoin in the EU, according to a recent Ledger Insights report. In April, the company established Ripple Payments Europe SA in Luxembourg to spearhead its European expansion. This entity is expected to apply for an Electronic Money Institution (EMI) license, enabling RLUSD to operate across all 30 European Economic Area (EEA) countries.
A Ripple representative highlighted the strategic importance of the European market, emphasizing the company’s commitment to to MiCA compliance and collaboration with regulators to ensure a compliant digital asset offering.
Luxembourg’s status as a global financial hub, home to major banks like Ripple’s partner BNY Mellon, makes it an ideal base. The country’s robust banking network supports the EU’s requirement for stablecoin issuers to maintain diverse and substantial reserves across multiple institutions. While France leads in EMI licenses due to its concentration of major banks, Luxembourg’s international banking ecosystem offers Ripple a strong foundation for RLUSD’s regional growth.
Chris Myers, EMEA Senior Counsel based in Luxembourg, will oversee RLUSD’s EMI licensing process with the local CSSF regulator, reinforcing Ripple’s regulatory-focused approach.
RLUSD Gains Global Traction
Beyond Europe, Ripple is advancing RLUSD’s presence in other markets. In Dubai, RLUSD has been recognized as a crypto token, aligning with the city’s emergence as a digital asset hub. Ripple has also partnered with Alchemy Pay to integrate fiat on-ramps, allowing users in over 170 countries to purchase RLUSD using more than 300 local payment methods, enhancing global accessibility.
Since its launch, RLUSD has gained significant momentum, with listings on exchanges such as Bitstamp, Kraken, Bitget, and Archax. The stablecoin’s supply has surpassed $500 million, with daily trading volumes nearing $94 million, per CoinMarketCap data.
Ripple’s RLUSD expansion aligns with broader stablecoin developments, including the U.S. GENIUS Act, which aims to streamline national regulations, and the EU’s MiCA framework, which enhances investor protection and transparency in the digital asset space.
