Ripple has achieved a significant milestone by obtaining regulatory approval from the Financial Conduct Authority (FCA) in the UK for its local subsidiary, Ripple Markets UK. This authorization as an Electronic Money Institution (EMI) allows the company to provide payment services.

Despite this achievement, Ripple faces limitations on certain cryptocurrency activities. According to official records, the registration is under the UK’s Money Laundering Regulations (MLRs). The EMI license means that while Ripple can offer payment services and issue electronic money, it comes with restrictions that it must navigate carefully.

The FCA indicated a timeline for new crypto licensing rules, mandating MLR-registered firms to apply for full authorization under the Financial Services and Markets Act (FSMA) by October 2027.

Further Approval Needed for Certain Ripple Products

Even though Ripple Markets UK is now recognized as an EMI and registered, it remains subject to additional FCA approvals. The firm is prohibited from providing services involving crypto ATMs or offering services to retail clients without prior written consent. Furthermore, Ripple cannot issue electronic money or provide payment services to consumers, micro-enterprises, or charities as indicated in the FCA’s guidelines.

Alongside this development, Monica Long, president of Ripple Labs, confirmed that the company is not considering an initial public offering (IPO) anytime soon, wanting to maintain its private status amidst a significant valuation surge.

Cointelegraph has reached out to Ripple for comments regarding the FCA’s recent approval but did not receive a response at the time of this report.

Related: Why XRP is outperforming Bitcoin and Ether at the start of 2026

FCA Source Source: FCA