On July 15, Cointelegraph reported that payment solutions company Ripple has confirmed plans to apply for a Markets in Crypto-Assets (MiCA) license to expand into the EU market.

A Ripple spokesperson stated that the company intends to "achieve MiCA compliance" because it recognizes that "there are significant opportunities in the European market."

This announcement comes as Ripple completed the registration of Ripple Payments Europe S.A. in Luxembourg at the end of April this year.