Ripple Receives the Greenlight from Central Bank of Ireland

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 evolving digital asset landscape, presenting opportunities for collaboration and market growth.

However, by securing a place on the Central Bank’s register, Ripple showcases its dedication to transparency and adherence to regulatory standards, instilling confidence among users and investors.

Meanwhile, this development highlights Ripple’s global impact and proactive approach to regulatory frameworks. Additionally, it contributes to a secure and compliant ecosystem for users.

At the time of publication, Ripple’s native token, XRP, price stands at $0.61.

XRP Price Chart 1 Month. Source: BeInCrypto

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.

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Meanwhile, the listing is anticipated to boost Ripple’s credibility. Additionally, attract institutional interest, and foster partnerships with financial entities seeking reliable virtual asset service providers.

However, in the ever-evolving regulatory landscape of the crypto space, 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 young Irish citizens.

A new Irish Banking and Payments Federation (BPFI) survey has 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.