Regulation
Ripple Expands US Footprint with New Licenses in New York and Texas
Ripple has secured Money Transmitter Licenses (MTLs) in New York and Texas, marking another step in its U.S. expansion.
These licenses, crucial for offering compliant cross-border payment services, strengthen Ripple’s ability to provide financial institutions and crypto businesses with faster and more efficient payment solutions.
Ripple Secures Money Transmitter Licenses in Two Key States
According to a company statement, Ripple has gained approval for Money Transmitter Licenses (MTLs) in New York and Texas. These licenses enable Ripple Payments customers to access licensed versions of its cross-border payments platform, ensuring that transactions are managed entirely by Ripple on their behalf.
Ripple stated that New York and Texas have seen growing demand for real-time global payment solutions, particularly from banks and crypto businesses. The licenses add to Ripple’s extensive regulatory compliance portfolio, including more than 55 MTLs globally, of which 33 are in the U.S. Additionally, Ripple holds a New York BitLicense and a Limited Purpose Trust Company Charter.
Joanie Xie, Ripple’s Managing Director for North America, commented, “We’re seeing more interest from financial institutions and crypto companies ready to embrace the benefits of blockchain and digital assets.”
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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