Use Cases
Crypto companies that nailed their compliance. Their use case and licences per jurisdiction.
| Company | Use case | 🪪 Licences | 🏛️ Regulator / Regime |
|---|---|---|---|
Since 2024 | USD-backed stablecoin issued on XRPL and Ethereum. Reference implementation of a regulated stablecoin using the XRPL IOU / Trust Line model with on-chain compliance primitives. | ||
Since 2012 | Cross-border payments infrastructure using XRPL for settlement (ODL — On-Demand Liquidity). One of the most broadly licensed crypto-payment companies globally: ~30 US state MTLs + APAC via Singapore MPI + UK EMI + UAE DFSA + Ireland CBI CASP for EU coverage under MiCA. | ||
Since 2018 | USD-pegged stablecoin issued by Circle. One of the first to achieve full MiCA EMT compliance in the EU (July 2024) via Circle Mint Europe (France-based). Historically issued under Bermuda DABA before the MiCA transition. | ||
Since 2012 | Largest US crypto exchange + institutional custody. Publicly listed (NASDAQ:COIN). Ireland-based EU hub for MiCA passporting; Germany was the first BaFin crypto-custody licensee (Jun 2021). Singapore MAS MPI granted 2023. | ||
Since 2011 | Top-tier US crypto exchange, founded in 2011. Ireland-based EU hub (Payward Europe) for MiCA CASP passporting. Strong institutional and staking products — settled SEC action on staking in Feb 2023. Broad regulatory footprint across 40+ US states, UK, Canada, Australia. | ||
🛡️BitGo Since 2013 | Pioneer of multi-signature institutional crypto custody (founded 2013). Holds a South Dakota trust charter (2018) and later a NY trust licence (2021). Custodies for >500 institutions, filed for US IPO in 2025 (S-1). Germany BaFin-registered under the crypto-custody licence. | ||
Since 2017 | World's largest crypto exchange by volume. Post-2023 $4.3B US settlement, pivoted to multi-jurisdiction licensed model anchored in Dubai. ~21+ licences globally. | ||
Since 2018 | NFT fantasy football game. First company to operate under the French JONUM regime (May 2024), created specifically after the ANJ investigation in 2022. | ||
Since 2018 | Regulated stablecoin infrastructure. Issues PYUSD (PayPal USD), BUSD (formerly Binance USD), and USDP. NYDFS-chartered trust company. | ||
Since 2017 | Institutional-grade digital asset custody. First crypto company to receive an OCC national trust bank charter in January 2021. Serves hedge funds, PE, family offices. | 🇺🇸 🏛️OCCFirst federally chartered crypto bank (National Trust Bank) · since 2021 | |
Since 2017 | Tokenisation platform for regulated securities (RWA). Runs the BlackRock BUIDL fund on Ethereum (2024), the largest tokenised treasury fund. SEC-regulated end-to-end. | ||
Since 2023 | Swiss/Liechtenstein-based RWA tokenisation platform bridging traditional capital markets with blockchain infrastructure. Uses XRPL for tokenised private debt issuance. Focus on institutional-grade private debt and structured products. | ||
Since 2014 | Regulated US crypto exchange + custody. Issued GUSD stablecoin. NYDFS-chartered trust company; operates in US, UK, and EU. Focus on institutional and compliance-first. | ||
Since 2015 | Multi-asset trading platform. XRPL-native since launch (2015) and a long-standing ODL corridor partner of Ripple. Regulated across US, UK, Lithuania (EU), and Australia, with mid-2020s transition to full MiCA CASP authorisation. | ||
Since 2011 | One of the oldest crypto exchanges (since 2011). XRPL-native BTC/XRP trading pair and a historic Ripple ODL settlement partner. Acquired by Robinhood in 2024 (€200M deal) to anchor its EU MiCA presence. | ||
Since 2014 | XRPL-native wallet and exchange since 2014. One of the earliest implementers of the XRPL IOU / Trust Line model for issuing stablecoins and fiat-backed tokens. Slovenia-based; rebuilt KYC/AML stack after the 2019 breach. | 🇪🇺 🪪VASP —Slovenia — Office for Money Laundering Prevention | |
Since 2018 | First UK FCA-authorised digital securities exchange (2020) — fully regulated under the MiFID-style regime, not just the crypto register. Tokenises traditional funds and uses XRPL for RWA settlement. Major Ripple partner targeting $1B+ in tokenised assets on XRPL by mid-2026. | ||
Since 2023 | Ripple's institutional custody stack, built from two acquisitions. Metaco (Swiss-based, acquired 2023) provides bank-grade custody technology used by Citi, BNP Paribas and Société Générale Forge. Palisade (acquired Nov 2025) adds a France-licensed MPC wallet-as-a-service with native XRPL, Ethereum and Solana support — targeted at fintechs and crypto-native firms. | ||
Since 2022 | AI + metaverse infrastructure company behind The Root Network, an XRPL-EVM-sidechain-style chain optimised for gaming and metaverse experiences. $54M Series A in 2023 led by 10T Holdings with Ripple participation. Not a regulated financial entity — pure tech/gaming play. | 🇺🇸 🪪Delaware C-corp —Consumer-facing gaming — no regulated financial activity | |
Since 2016 | Reference XRPL mobile wallet (formerly XUMM, renamed Xaman in 2024). Strictly non-custodial — users hold their own keys and XRPL Labs has no access to funds. xApps ecosystem for embedded dApps, Tangem hardware-wallet integration, biometric signing. Operates under the FATF carve-out for non-custodial wallet software providers — no VASP / CASP licence required. | ||
Since 2020 | XRPL-native tokenisation platform for equities, ETFs and RWAs. Launched as Sologenic in 2020, rebranded and expanded to TX Network in 2025 as unified RWA + cross-chain bridge infrastructure. One of the largest XRPL-native projects by on-chain TVL; pioneered the on-chain stock / ETF model on XRPL. | ||
Since 2021 | Decentralised dApp hosting on Xahau — an XRPL fork with native smart-contract Hooks. Each dApp runs as its own mini-blockchain on Xahau Mainnet, paid in EVR tokens. Open-source protocol with no central operator; registration and AML obligations sit at the dApp-operator layer, not at the protocol. | ||
Since 2017 | Andorra/Spain-based engineering firm and one of the most active XRPL builders. Lead developer of the XRPL EVM Sidechain (with Ripple) and the public testnet at evm.xrpl.org. Builds Levitation tools for XRPL state queries + ZK proofs, contributes core code to xrpl.js, and partners with public-sector clients on tokenisation pilots (e.g. Andorran government projects). | ||
Since 2018 | Swedish XRPL infrastructure firm focused on multi-signature security and on-ledger compliance tooling. Co-author of XLS-43 (Hardware-Wallet Signing Spec) and key contributor to XRPL.js. Their products + consulting underpin the multi-sig + SignerList implementations used by several institutional XRPL custodians and exchanges. | 🇪🇺 🪪Software / security services (no licensable activity) | |
USD-backed stablecoin issued on XRPL and Ethereum. Reference implementation of a regulated stablecoin using the XRPL IOU / Trust Line model with on-chain compliance primitives.
- 🇺🇸by🏛️NYDFSStandard Custody
Cross-border payments infrastructure using XRPL for settlement (ODL — On-Demand Liquidity). One of the most broadly licensed crypto-payment companies globally: ~30 US state MTLs + APAC via Singapore MPI + UK EMI + UAE DFSA + Ireland CBI CASP for EU coverage under MiCA.
- 🇺🇸🪪MTLState-by-state, ~30 states
- 🇦🇪
USD-pegged stablecoin issued by Circle. One of the first to achieve full MiCA EMT compliance in the EU (July 2024) via Circle Mint Europe (France-based). Historically issued under Bermuda DABA before the MiCA transition.
Largest US crypto exchange + institutional custody. Publicly listed (NASDAQ:COIN). Ireland-based EU hub for MiCA passporting; Germany was the first BaFin crypto-custody licensee (Jun 2021). Singapore MAS MPI granted 2023.
Top-tier US crypto exchange, founded in 2011. Ireland-based EU hub (Payward Europe) for MiCA CASP passporting. Strong institutional and staking products — settled SEC action on staking in Feb 2023. Broad regulatory footprint across 40+ US states, UK, Canada, Australia.
Pioneer of multi-signature institutional crypto custody (founded 2013). Holds a South Dakota trust charter (2018) and later a NY trust licence (2021). Custodies for >500 institutions, filed for US IPO in 2025 (S-1). Germany BaFin-registered under the crypto-custody licence.
World's largest crypto exchange by volume. Post-2023 $4.3B US settlement, pivoted to multi-jurisdiction licensed model anchored in Dubai. ~21+ licences globally.
- 🇦🇪by🏛️VARADubai
NFT fantasy football game. First company to operate under the French JONUM regime (May 2024), created specifically after the ANJ investigation in 2022.
- 🇪🇺
Regulated stablecoin infrastructure. Issues PYUSD (PayPal USD), BUSD (formerly Binance USD), and USDP. NYDFS-chartered trust company.
- 🇺🇸by🏛️NYDFS
Institutional-grade digital asset custody. First crypto company to receive an OCC national trust bank charter in January 2021. Serves hedge funds, PE, family offices.
- 🇺🇸
Tokenisation platform for regulated securities (RWA). Runs the BlackRock BUIDL fund on Ethereum (2024), the largest tokenised treasury fund. SEC-regulated end-to-end.
Swiss/Liechtenstein-based RWA tokenisation platform bridging traditional capital markets with blockchain infrastructure. Uses XRPL for tokenised private debt issuance. Focus on institutional-grade private debt and structured products.
- 🇨🇭by🏛️FINMA
- 🇱🇮
Regulated US crypto exchange + custody. Issued GUSD stablecoin. NYDFS-chartered trust company; operates in US, UK, and EU. Focus on institutional and compliance-first.
Multi-asset trading platform. XRPL-native since launch (2015) and a long-standing ODL corridor partner of Ripple. Regulated across US, UK, Lithuania (EU), and Australia, with mid-2020s transition to full MiCA CASP authorisation.
One of the oldest crypto exchanges (since 2011). XRPL-native BTC/XRP trading pair and a historic Ripple ODL settlement partner. Acquired by Robinhood in 2024 (€200M deal) to anchor its EU MiCA presence.
- 🇬🇧
- 🇺🇸by🏛️NYDFS
XRPL-native wallet and exchange since 2014. One of the earliest implementers of the XRPL IOU / Trust Line model for issuing stablecoins and fiat-backed tokens. Slovenia-based; rebuilt KYC/AML stack after the 2019 breach.
- 🇪🇺🪪VASPSlovenia — Office for Money Laundering Prevention
First UK FCA-authorised digital securities exchange (2020) — fully regulated under the MiFID-style regime, not just the crypto register. Tokenises traditional funds and uses XRPL for RWA settlement. Major Ripple partner targeting $1B+ in tokenised assets on XRPL by mid-2026.
Ripple's institutional custody stack, built from two acquisitions. Metaco (Swiss-based, acquired 2023) provides bank-grade custody technology used by Citi, BNP Paribas and Société Générale Forge. Palisade (acquired Nov 2025) adds a France-licensed MPC wallet-as-a-service with native XRPL, Ethereum and Solana support — targeted at fintechs and crypto-native firms.
- 🇨🇭
AI + metaverse infrastructure company behind The Root Network, an XRPL-EVM-sidechain-style chain optimised for gaming and metaverse experiences. $54M Series A in 2023 led by 10T Holdings with Ripple participation. Not a regulated financial entity — pure tech/gaming play.
- 🇺🇸🪪Delaware C-corpConsumer-facing gaming — no regulated financial activity
Reference XRPL mobile wallet (formerly XUMM, renamed Xaman in 2024). Strictly non-custodial — users hold their own keys and XRPL Labs has no access to funds. xApps ecosystem for embedded dApps, Tangem hardware-wallet integration, biometric signing. Operates under the FATF carve-out for non-custodial wallet software providers — no VASP / CASP licence required.
XRPL-native tokenisation platform for equities, ETFs and RWAs. Launched as Sologenic in 2020, rebranded and expanded to TX Network in 2025 as unified RWA + cross-chain bridge infrastructure. One of the largest XRPL-native projects by on-chain TVL; pioneered the on-chain stock / ETF model on XRPL.
Decentralised dApp hosting on Xahau — an XRPL fork with native smart-contract Hooks. Each dApp runs as its own mini-blockchain on Xahau Mainnet, paid in EVR tokens. Open-source protocol with no central operator; registration and AML obligations sit at the dApp-operator layer, not at the protocol.
Andorra/Spain-based engineering firm and one of the most active XRPL builders. Lead developer of the XRPL EVM Sidechain (with Ripple) and the public testnet at evm.xrpl.org. Builds Levitation tools for XRPL state queries + ZK proofs, contributes core code to xrpl.js, and partners with public-sector clients on tokenisation pilots (e.g. Andorran government projects).
Swedish XRPL infrastructure firm focused on multi-signature security and on-ledger compliance tooling. Co-author of XLS-43 (Hardware-Wallet Signing Spec) and key contributor to XRPL.js. Their products + consulting underpin the multi-sig + SignerList implementations used by several institutional XRPL custodians and exchanges.
- 🇪🇺🪪Software / security services (no licensable activity)
Building a payment rail?
These use cases are regulated operations. If you're looking for vendor infrastructure instead (on/off-ramp, cross-border stablecoin, Travel Rule), it's surfaced on the report when you pick a payment activity — MoonPay, Ramp, Transak, Ripple Payments, Bridge, Felix Pago, Yellow Card, Notabene, Sumsub, etc.
See payment partners by jurisdiction →Public information compiled for educational purposes. Does not constitute legal advice or an investment recommendation.