Ripple Markets UK Ltd, the company’s local subsidiary, has secured registration with the country’s Financial Conduct Authority (FCA) in recognition that it meets its money laundering regulations.
Consequently, the Brad Garlinghouse-led firm will now be able to conduct certain crypto-related activities in the United Kingdom.
Ripple Markets UK Ltd’s appearance on the FCA’s register automatically means that the entity complies with local money laundering and counter-terrorist financing rules. However, the actual approval is not a full financial services authorization, reads the website’s fine print.
With this development, Ripple continues to expand its footprint across different global regions, including in Europe. Just a month ago, CryptoPotato reported that the company had secured its first banking partnership in the Old Continent with the Swiss-based AMINA Bank AG.
Both parties plan to support near-real-time cross-border payments for the bank’s clients using Ripple Payments.
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