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<ul>
 <li>Ripple wins UK’s PAY360 award for digital currency leadership as MiCA regulations bring new clarity to the European crypto market.</li>
 <li>Uphold to delist multiple stablecoins, including Tether and Dai, ahead of MiCA regulations taking effect on June 30, 2024.</li>
 <li>EUR-backed stablecoins expected to rise in Europe as MiCA regulations increase scrutiny on USD-backed stablecoins.</li>
</ul>
<p><a href="https://ripple.com/" rel="noopener noreferrer nofollow">Ripple</a> has positioned itself favorably within the UK and European crypto markets, recently securing the UK’s prestigious PAY360 award for leadership in digital currencies. This achievement shows Ripple’s commitment to innovation and regulatory compliance, especially as the Markets in Crypto Assets (MiCA) regulations are set to take effect within the European Economic Area (EEA) in less than two weeks.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1ec.png" alt="🇬" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e7-1f1ea.png" alt="🇧🇪" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa.png" alt="🇺" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/RIPPLE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#RIPPLE</a> IS WELL POSITIONED FOR THE UK AND EUROPEAN CRYPTO MARKET <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> RIPPLE HAS WON THE UK´S MOST PRESTIGIOUS PAYMENTS AWARDS AND RIPPLE'S <a href="https://twitter.com/hashtag/STABLECOIN?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#STABLECOIN</a> MEETS ALL <a href="https://twitter.com/hashtag/MiCA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MiCA</a> REGULATORY CRITERIA <br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> THE <a href="https://twitter.com/hashtag/MiCA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MiCA</a> REGULATIONS DUE IN LESS THAN TWO WEEKS SHOULD BE A BIG WIN FOR EUROPE IN… <a href="https://t.co/Y3b1piOv3y" rel="noopener noreferrer nofollow">https://t.co/Y3b1piOv3y</a> <a href="https://t.co/ZEgEubqitB" rel="noopener noreferrer nofollow">pic.twitter.com/ZEgEubqitB</a></p>— XRP DROPZ (@DROPZXRP) <a href="https://twitter.com/DROPZXRP/status/1803046339250434374?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 18, 2024</a>
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<h3 class="wp-block-heading" id="h-ripple-s-accomplishments-and-recognition"><strong>Ripple’s Accomplishments and Recognition</strong></h3>
<p>In October 2023, Ripple won the UK’s <a href="https://thepay360awards.com/" rel="noopener noreferrer nofollow">PAY360 Awards</a>, recognizing its leadership in digital currencies and assets within the financial services sector. This accolade was celebrated by Sendi Young, Managing Director of Ripple’s European operations, who highlighted the achievement on her X account. Ripple’s recognition extends beyond the UK, as it ranked 13th in Fortune’s “Best Workplace in Technology” and was listed among People Magazine’s top caring companies.</p>
<h3 class="wp-block-heading" id="h-uphold-s-adjustments-ahead-of-mica-regulations"><strong>Uphold’s Adjustments Ahead of MiCA Regulations</strong></h3>
<p>In anticipation of the MiCA regulations, <a href="https://cryptonewsland.com/uphold-ceo-predicts-major-corporate-adoption-of-xrp-fueling-possibility-for-xrp-price-to-hit-10000/" rel="noopener noreferrer nofollow">Ripple’s On-Demand Liquidity (ODL) partner</a>, Uphold, has announced plans to remove support for multiple stablecoins, including Tether (USDT), Dai (DAI), and Frax Protocol (FRAX). This move is part of a broader trend among crypto exchanges to align with the forthcoming regulatory framework.&nbsp;</p>
<p>Additional stablecoins affected by Uphold’s decision include Gemini Dollar (GUSD), Pax Dollar (USDP), and TrueUSD (TUSD). Customers holding these assets are advised to convert them by June 27, 2024, as they will automatically be converted into USD Coin (USDC) on June 28, 2024.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a>'s ODL partner, <a href="https://twitter.com/UpholdInc?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@UpholdInc</a>, has announced removal of numerous stablecoins, including Tether. <a href="https://t.co/5Tt4n4rPsS" rel="noopener noreferrer nofollow">pic.twitter.com/5Tt4n4rPsS</a></p>— JackTheRippler © (@RippleXrpie) <a href="https://twitter.com/RippleXrpie/status/1803010529302134954?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 18, 2024</a>
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<h3 class="wp-block-heading" id="strong-implications-of-mica-regulations-on-the-crypto-market-strong"><strong>Implications of MiCA Regulations on the Crypto Market</strong></h3>
<p>The upcoming <a href="https://cryptonewsland.com/binance-adapts-to-new-european-stablecoin-regulations-by-implementing-the-markets-in-crypto-assets-mica-regulations/" rel="noopener noreferrer nofollow">MiCA regulations</a>, set to take effect on June 30, 2024, represent a significant shift in the regulatory landscape for stablecoins within the EEA. Uphold’s proactive measure aligns with similar actions taken by other major exchanges like Binance, OKX, and Kraken, which are also adjusting their operations to comply with MiCA requirements.</p>
<h3 class="wp-block-heading" id="strong-future-prospects-for-eur-and-usd-stablecoins-strong"><strong>Future Prospects for EUR and USD Stablecoins</strong></h3>
<p>As USD-backed stablecoins face increased regulatory scrutiny in Europe, EUR-backed stablecoins are expected to see a rise in adoption within the European region. Despite this, <a href="https://cryptonewsland.com/ripple-teases-progress-on-upcoming-stablecoin/" rel="noopener noreferrer nofollow">USD stablecoins</a> are likely to maintain their dominance in the global market. The MiCA regulations are anticipated to bring greater regulatory clarity, benefiting the European crypto market.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/iota-strategically-aligns-with-eus-mica-bill-to-navigate-regulatory-landscape/" rel="noopener noreferrer nofollow">IOTA Strategically Aligns with EU’s MiCA Bill to Navigate Regulatory Landscape</a></li>
 <li><a href="https://cryptonewsland.com/eu-leads-the-way-in-crypto-legislation-with-micas-enactment/" rel="noopener noreferrer nofollow">EU Leads the Way in Crypto Legislation with MiCA’s Enactment</a></li>
 <li><a href="https://cryptonewsland.com/binance-adapts-to-new-european-stablecoin-regulations-by-implementing-the-markets-in-crypto-assets-mica-regulations/" rel="noopener noreferrer nofollow">Binance Adapts to New European Stablecoin Regulations by implementing the Markets in Crypto-Assets (MiCA) Regulations</a></li>
 <li><a href="https://cryptonewsland.com/eu-parliament-nods-to-crypto-mining-for-mica-law/" rel="noopener noreferrer nofollow">EU Parliament Nods to Crypto Mining for MICA Law</a></li>
 <li><a href="https://cryptonewsland.com/xrp-community-benefits-first-as-uphold-integrates-with-xrpl/" rel="noopener noreferrer nofollow">XRP Community Benefits First as Uphold Integrates With XRPL</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ripple-wins-uks-pay360-award-as-ripple-partner-uphold-delists-multiple-stablecoins-including-usdt/" rel="noopener noreferrer nofollow">Ripple Wins UK’s Pay360 Award as Ripple Partner Uphold Delists Multiple Stablecoins Including USDT</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple Wins UK’s Pay360 Award as Ripple Partner Uphold Delists Multiple Stablecoins Including USDT

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