Ripple's EU License Sparks Questions Over XRP's Future
Ripple's recent licensing win in Luxembourg has significant implications for its payment services business within the European Economic Area (EEA).
The company now holds a crypto-asset service provider license, which grants it passporting rights across 30 EEA countries.
This means that Ripple can offer compliant payment services to banks and financial institutions throughout the region, but the question remains whether this will lead to increased adoption of XRP as a settlement currency.
According to Fire Hustle's YouTube video, banks may increasingly choose RLUSD over XRP for settlement purposes. The stablecoin is pegged to the US dollar and has seen significant growth in its supply, which now accounts for most stablecoin balances on the XRP Ledger.