Ripple Europe managing director Sendi Young said the company has submitted an application to the UK’s Financial Conduct Authority (FCA) to register as a virtual asset services provider. Simultaneously applied for a payment institution license in Ireland.
“We are in the process of applying for registration in the UK and Ireland. All of these are massive investments with the goal of further exponential growth in the region,” Young said.
Ripple’s head of Europe declined to comment on Ripple’s future expansion plans in the UK and Europe, but confirmed that the company is continuing to increase headcount and hiring. Over the past 18 months, Ripple s headcount in the UK and Europe has increased by around 75%, now employing more than 100 people in its offices in London, Dublin and Reykjavik.
UK financial regulators are not going to regulate cryptocurrency activity as a gambling activity.