Ripple gains approval as a digital asset operator in Ireland.

Other companies included in the CBI's register of virtual asset service providers include exchanges Coinbase and Gemini, payment processor MoonPay and Zodia Custody, among others

With the registration, Ripple aims to offer cryptocurrency services to clients in the European Economic Area following the adoption of the important European cryptocurrency regulation known as the Markets in Crypto Assets Regulation (MiCA).

Expected to come into force in late 2024, MiCA aims to increase investor protection and improve compliance with anti-money laundering laws.

"The addition of Ripple Markets by the CBI to its list of registered virtual asset service providers is an important step forward for our business in the region," said Ripple's senior vice president of strategic initiatives, Eric van Miltenburg. He added:

"Ireland has positioned itself as a supportive jurisdiction for the virtual asset industry and, consequently, a great place for businesses like Ripple to operate, which reinforces our decision to select Ireland as our primary base for EU regulation."

Ripple's latest regulatory achievements in Ireland come nearly two years after the company established its first offices in the country. Ripple reportedly opened an office in Dublin in February 2022 with the aim of launching services in Ireland and serving the broader European market.

Ripple Executive Predicts Changes in Crypto Landscape in 2024

Aside from global expansion, Ripple has been making progress with its domestic legal matters, securing a significant victory in its long-running legal battle initiated by the US Securities and Exchange Commission (SEC) in July 2023.