The post Ripple Strengthens U.S. Operations with Key Licenses in Texas and New York appeared on BitcoinEthereumNews.com.
Ripple Labs has secured Money Transmitter Licenses (MTLs) in Texas and New York, representing a major step in enhancing its cross-border payment solutions. These licenses strengthen Ripple’s position in two of the most influential U.S. markets and underscore the company’s dedication to regulatory compliance and innovation in the payments sector. The announcement, made on January 27, highlights the increasing demand for real-time, cost-efficient global payment solutions from banks and cryptocurrency businesses in both states. “We’re continuing to see more interest from financial institutions and crypto businesses that want to unlock the benefits of blockchain for faster and 24/7 cross-border payments,” said Joanie Xie, Ripple’s Managing Director for North America. Expanding U.S. Reach Through Strategic Licensing With these approvals, Ripple now holds over 55 Money Transmitter Licenses across the United States. The addition of Texas and New York—states renowned for their stringent regulatory standards—positions Ripple to tap into thriving financial ecosystems. Texas, with its flourishing cryptocurrency mining sector, and New York, a global hub for financial services, offer Ripple unique opportunities to expand its network and services. The licenses also align with Ripple’s broader strategy of global expansion. The company facilitates transactions across more than 90 markets, processing $70 billion in payments last year alone—double the previous year’s volume. Ripple’s robust licensing portfolio extends beyond U.S. borders, including a Major Payment Institution License in Singapore, Virtual Asset Service Provider registrations in Ireland and the Cayman Islands, and preliminary approvals in Dubai. Ripple’s progress comes amidst ongoing legal challenges. The firm’s protracted battle with the Securities and Exchange Commission (SEC) has been a defining narrative for the company. In 2024, Ripple was fined $125 million for institutional XRP sales deemed in violation of securities laws. Brad Garlinghouse, showing Frustration, at one point condemned the approach Gensler had taken throughout his tenure on…