Ripple has announced that it has been officially listed on the Central Bank of Ireland’s Virtual Asset Service Providers Register.
Cementing its commitment to regulatory compliance, the Central Bank has included the blockchain-based payment protocol in its approved list of Virtual Asset Service Providers.
Marks Ripple’s Presence in Ireland
According to a recent report, this move marks Ripple’s presence in Ireland’s crypto sector. This presents opportunities for collaboration and market growth.
However, by securing a place on the Central Bank’s register, Ripple claims to showcase its transparency and adherence to regulatory standards, instilling confidence among users and investors.
Meanwhile, this development highlights Ripple’s global impact and approach to regulatory frameworks. Additionally, it contributes to a secure and compliant ecosystem for users.
At the time of publication, Ripple’s native XRP token price stands at $0.61.
Read more: Everything You Need To Know About Ripple vs SEC
Opportunities Ahead for Ripple
Ireland’s rise as a fintech innovation hub, combined with Ripple’s inclusion in the register, solidifies its role in shaping the future of digital finance globally.
Meanwhile, the listing is anticipated to boost Ripple’s credibility. Additionally, it will likely attract institutional interest and foster partnerships with financial entities seeking reliable virtual asset service providers.
However, as far as regulations go in the crypto sector, Ripple’s engagement with regulatory authorities positions it as a responsible industry participant.
This comes after a recent survey revealed that crypto is more popular among the younger generation in Ireland.
A new Irish Banking and Payments Federation (BPFI) survey revealed that crypto investments in Ireland are more popular with younger Irish citizens who consult online sources more than fund managers.
Roughly 16% of Irish adults aged 18-34 invest in cryptocurrencies, compared to only 3% of citizens aged 55 and over.
Read more: How to Buy Ripple (XRP) in Four Easy Steps – A Beginner’s Guide
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