Ripple has further cemented its position in the U.S. market with the acquisition of Money Transmitter Licenses (MTLs) in both New York and Texas. This significant regulatory milestone enables Ripple to enhance its cross-border payment services, expanding access to its cutting-edge payment platform in two major financial hubs.
These newly acquired licenses are vital for Ripple to offer compliant payment solutions to U.S.-based financial institutions and crypto businesses, ensuring a smoother and more efficient experience for cross-border transactions. The licenses will provide Ripple Payments customers in New York and Texas access to licensed versions of Ripple’s payments network, improving the speed and efficiency of global transactions.
Ripple’s regulatory expansion doesn’t stop here; the company already holds more than 55 MTLs globally, including 33 in the U.S., showcasing its deep commitment to regulatory compliance. In addition to the MTLs, Ripple has secured a New York BitLicense and a Limited Purpose Trust Company Charter, further solidifying its ability to operate in key jurisdictions.
Joanie Xie, Ripple’s Managing Director for North America, commented on the growing demand for real-time, blockchain-based payment solutions in the U.S., particularly from banks and crypto enterprises. She emphasized that these new licenses will allow Ripple to meet the increasing interest in digital asset adoption across the financial sector.
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