Ripple Secures Licenses in New York and Texas, Expanding U.S. Footprint
The post Ripple Secures Licenses in New York and Texas, Expanding U.S. Footprint appeared on BitcoinEthereumNews.com.
In a latest development, Ripple has obtained Money Transmitter Licenses (MTLs) in New York and Texas, further expanding its presence in the U.S. These licenses enable Ripple to offer compliant cross-border payment services, enhancing its ability to provide financial institutions and crypto businesses with faster, more efficient payment solutions. This news comes as firms are prepared for a crypto-friendly regulatory regime under President Donald Trump. Notably, MTLs allow Ripple Payments customers to access a licensed version of its cross-border payments solution in the U.S., where transactions are managed end-to-end by Ripple on behalf of the customers. 55 Global Approvals! In addition to the two new MTLs, Ripple’s license portfolio now totals around 55 global approvals, including the prestigious New York BitLicense and a Limited Purpose Trust Company Charter. “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,” Joanie Xie, Ripple Managing Director of North America, noted. “With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape.” Its other regulatory approvals include registration as a VASP in Ireland and the Cayman Islands, and an in-principle license in Dubai. Ripple Payments has also grown its client base in North America, adding new partners like Bancoli, CambioReal, and GeoSwift in 2024, helping clients navigate the evolving financial ecosystem. A Significant Shift Ahead? Ripple’s recent U.S. regulatory approvals align with the Trump administration’s favorable stance on cryptocurrencies. It also noted that the U.S. industry players are optimistic about the upcoming four years, expecting a more crypto-friendly environment under President Donald Trump. In a related move, the SEC recently repealed SAB 121, which had placed stringent conditions…
Filed under: News - @ January 27, 2025 8:21 pm