Ripple Secures FCA EMI Registration, Paves Way for Regulated UK Stablecoin and Institutional Payments

Ripple Markets UK has been granted Electronic Money Institution (EMI) registration and registered under the UK Money Laundering Regulations by the Financial Conduct Authority (FCA). The approval lets Ripple issue electronic money and provide regulated payment services in the UK, supporting its institutional Ripple Payments platform and potentially providing a regulatory framework for a USD‑pegged stablecoin (RLUSD). The FCA registration imposes explicit restrictions: Ripple Markets UK cannot serve retail consumers, micro‑enterprises or charities; cannot operate crypto ATMs; and cannot appoint agents or distributors or undertake certain retail activities without prior FCA consent. This EMI status strengthens Ripple’s regulated footprint in the UK alongside its other licenses (e.g., Singapore Major Payment Institution, New York Trust Charter) and aims to accelerate institutional adoption and cross‑border enterprise payments. Market participants should note the UK’s broader crypto regulatory roadmap: firms currently registered under Money Laundering Regulations must apply for authorization under the Financial Services and Markets Act (FSMA) during the FCA’s application window opening in September 2026; the new regime becomes effective October 2027. Ripple Markets UK will not convert automatically and must reapply for FSMA authorization or variations to continue regulated crypto activities beyond the transition — missing the FCA window will limit new regulated activity until authorised. Traders should monitor XRP for potential reaction (XRP was quoted around $2.09 at reporting) and watch developments on RLUSD issuance, FCA consent items, and Ripple’s FSMA application progress, as these carry implications for institutional liquidity and regulatory clarity in the UK payments and stablecoin space.