Summary
- Ripple’s UK subsidiary Ripple Markets UK has obtained approval from the UK Financial Conduct Authority (FCA) to register as a cryptoasset business, the report said.
- With the approval, Ripple said it can now legally conduct certain cryptoasset-related business activities in the UK.
- However, it said additional authorization is required to provide comprehensive financial services.
Blockchain-based cross-border payments company Ripple is expected to expand in earnest into the UK.
According to CoinDesk, a cryptocurrency-focused media outlet, Ripple’s UK subsidiary “Ripple Markets UK” has obtained approval from the UK Financial Conduct Authority (FCA) to register as a cryptoasset business under anti-money laundering (AML) rules.
With this registration, Ripple can now legally conduct certain cryptoasset-related business activities in the UK. However, additional authorization is required to provide comprehensive financial services.
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