Ripple, a leader in blockchain payment solutions, has just expanded its footprint in the United States by acquiring two more Money Transmitter Licenses (MTLs) this week—one from New York and the other from Texas. This acquisition brings Ripple’s total count to over 55 licenses, highlighting its significant growth and adaptability within the regulatory environment.
### Ripple Expands Global Reach
It’s reported that these fresh licenses will enable Ripple to deliver even better cross-border payment services, helping the company streamline end-to-end transactions. Joanie Xie, Ripple’s Managing Director for North America, emphasized the growing interest from both financial institutions and cryptocurrency firms that are eager to utilize blockchain for quicker and more economical transactions. She remarked on Ripple’s strategic advantage born from years of expertise in both the crypto world and traditional financial systems, making it a prime partner for institutions ready to embrace the blockchain era.
Ripple’s success isn’t confined to U.S. borders. The company also boasts a Major Payment Institution License in Singapore, as well as Virtual Asset Service Provider registrations in Ireland and the Cayman Islands. Moreover, it has received an in-principal license from Dubai’s Financial Services Authority (DFSA), illustrating its robust international presence.
### Ramps Up Domestic Hiring Amid Crypto-Friendly Regulations
Ripple’s influence is evident, having processed around $70 billion in payment volume on its blockchain ledger, consequently doubling its North American client base within just the last year. Despite navigating regulatory hurdles, including an ongoing legal skirmish with the U.S. Securities and Exchange Commission (SEC) over its XRP token, the company remains confident about its American future.
The SEC claimed XRP was an unregistered security; however, a court found XRP’s retail transactions to be lawful, although Ripple was fined $125 million for issues related to institutional offerings. Recently, the political winds seem to have shifted favorably with the appointment of crypto-friendly regulators under the Trump administration, paving way for Ripple to amplify its U.S. operations.
Reflecting this favorable climate, Ripple reports that about 75% of its job openings are now based in the U.S., showing a significant uptick in domestic hiring compared to previous years.
While XRP currently trades at $3, not surpassing its seven-year-old peak of $3.40, it still boasts substantial gains—with a 40% rise monthly and a striking 470% increase since the beginning of the year.
Featured image from Shutterstock, chart from TradingView.com
