The post Ripple obtains Money Transmitter Licenses in New York and Texas appeared on BitcoinEthereumNews.com.

Blockchain firm Ripple has announced the acquisition of Money Transmitter Licenses (MTLs) in New York and Texas as the company seeks to expand its domestic footprint in the United States. Ripple noted that the new licenses align with a period of growing demand in both states for compliant, real-time global payment solutions, the company said in a statement on January 27. “We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments. <…> Ripple is well-positioned to support companies who are ready to take advantage of the current landscape,” said Joanie Xie, Managing Director of North America at Ripple. New York and Texas approvals raise Ripple’s total U.S. MTLs to over 50 and its global regulatory approvals to more than 60.  These include New York BitLicense, a New York Limited Purpose Trust Company Charter, and a Major Payment Institution License from Singapore’s Monetary Authority. Shifting regulatory landscape  The licenses come at a time when the cryptocurrency community in the United States is optimistic about the industry’s state, given the friendly Donald Trump administration. To this end, the company acknowledged that cryptocurrency regulations in the U.S. are witnessing a significant shift, citing the recent move by the Securities and Exchange Commission (SEC) to rescind a provision that would have imposed strict requirements on banks offering crypto custody. Ripple stated that with the new administration, policymakers and regulators seemingly acknowledge the significance of digital asset innovation. These developments have emerged as the SEC, expected to have a pro-cryptocurrency head potentially, has formed a new digital asset task force to facilitate practical regulatory frameworks. Although Ripple has witnessed increased use cases of its underlying cross-border payment technology, the company remains in a precarious situation regarding…

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Filed under: News - @ January 27, 2025 5:23 pm