Ripple Gains CBI Approval to Operate as Virtual Asset Service Provider in Ireland
Summary:
The Central Bank of Ireland (CBI) has certified Ripple, a cryptocurrency payment network, as a virtual asset service provider (VASP). The approval allows Ripple to conduct crypto transactions for different entities, exchange between different cryptocurrencies and fiat currencies, and provide custody services. Other companies on CBI's VASP register include Coinbase, MoonPay, Gemini exchange, and Zodia Custody.
The Central Bank of Ireland (CBI) has given a major regulatory approval to Ripple, a cryptocurrency payment network, by certifying it as a virtual asset service provider (VASP). This news, announced by Ripple on December 19, indicates that the company has earned a spot in the CBI's registered list of VASPs, authorizing it to offer certain services linked to digital assets within Ireland. Per the information from CBI’s VASP registry, Ripple now has the capability to handle transactions for either natural or legal entities, involved in moving digital assets from one account or address to another. Additionally, the data indicates that Ripple has the green light to offer services related to crypto exchange against traditional currencies and facilitate exchanges among various cryptocurrencies. Furthermore, ripple can now offer custody services as well. Apart from Ripple, the CBI's VASP list includes other significant cryptocurrency firms such as U.S. based crypto exchange Coinbase, payment processor MoonPay, Gemini exchange, and Zodia Custody. As this news continues to develop, more details will be shared as they come to light.
Published At
12/20/2023 11:43:17 AM
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