TL;DR
- Ripple has obtained money transmitter licenses in New York and Texas, allowing it to expand its presence in the U.S. market.
- With more than 55 money transmitter licenses globally, it also holds significant regulatory registrations in the U.S. and other countries.
- The company is expanding its presence in the U.S., with 75% of new hires being local and an increase in payment volume.
Ripple has obtained money transmitter licenses in the states of New York and Texas, which will allow it to expand its presence in the U.S. market.
These licenses enable the company to offer its cross-border payment solution under a local regulatory framework, ensuring that transactions are fully managed by Ripple on behalf of its customers. The company is working hard to solidify its position in the country, especially thanks to the new, more crypto-friendly political context.
The company has highlighted the growing demand for real-time, global payment solutions from both banking institutions and crypto companies. Ripple points out that the benefits of blockchain technologies, such as faster and more economical payments, have captured the interest of these sectors.
With the recent acquisition of these licenses, Ripple now holds over 55 money transmitter licenses globally, covering 33 U.S. states. Additionally, the company has other important licenses, such as New York’s BitLicense, and registrations in countries like Singapore and Ireland, which allow it to operate legally and in accordance with local regulations in multiple markets.
Ripple and a New Future Under the Trump Administration
Ripple also benefits from the currently hypothetical more favorable regulation under the Donald Trump administration, which could accelerate the adoption of digital assets in the country. The company emphasizes that with the recent reversal of SAB 121 by the SEC, traditional banks will be able to custody digital assets, which will open new opportunities for the sector.
The company is also expanding its presence in the U.S., with 75% of its new hires based in the country, made possible by the impact of the current political environment. The firm has increased its payment volume, surpassing $70 billion across more than 90 markets, and continues to add new customers in North America. In addition, it recently launched its RLUSD stablecoin, which will be integrated into its payment network in the coming months.
However, Ripple is still in the middle of a legal dispute with the SEC over XRP sales, which the agency considers violations of securities laws. Nevertheless, the company is confident in a swift resolution of the case under the new administration and with the potential appointment of Paul Atkins as SEC chairman
