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    Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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Crypto Era Begins! Ripple Expands with Licenses in New York & Texas

Story Highlights
  • Ripple secured Money Transmitter Licenses in New York and Texas, expanding its U.S. reach for compliant cross-border payments.

  • These licenses, along with existing approvals like the NY BitLicense, bring Ripple's global regulatory portfolio to around 55.

  • This is a shift towards a more crypto-friendly regulatory environment in the U.S., including the recent repeal of SAB 121.

Ripple has taken a big step in expanding its U.S. presence by securing Money Transmitter Licenses (MTLs) in New York and Texas. These licenses allow Ripple to offer compliant cross-border payment services, enhancing its ability to provide faster and more efficient payment solutions for financial institutions and crypto businesses.

This move comes as companies prepare for a potentially crypto-friendly regulatory environment under President Donald Trump

With the new MTLs, Ripple Payments customers can now access a licensed version of its cross-border payment solution in the U.S. Ripple manages these transactions end-to-end, ensuring a smooth and reliable service for its customers.

Rippleโ€™s Growing Global License Portfolio

In addition to the two new MTLs, Rippleโ€™s license portfolio now totals around 55 global approvals, inThese two new licenses bring Rippleโ€™s total number of global regulatory approvals to around 55.

This includes the well-known New York BitLicense and a Limited Purpose Trust Company Charterโ€”important assets that solidify Rippleโ€™s position in both the financial and crypto sectors.

Joanie Xie, Rippleโ€™s Managing Director of North America, highlighted the increasing interest from both financial institutions and crypto businesses looking to take advantage of blockchain technology for faster, cost-effective, and 24/7 cross-border payments.

โ€œWith years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape.โ€

A Powerful Client Base

Rippleโ€™s regulatory approvals extend beyond the U.S., with licenses as a Virtual Asset Service Provider (VASP) in Ireland and the Cayman Islands, as well as an in-principle license in Dubai. In addition, Ripple has been expanding its North American client base, welcoming new partners such as Bancoli, CambioReal, and GeoSwift in 2024.

A Bright Future for Crypto in the U.S.

Rippleโ€™s recent U.S. regulatory approvals align with the optimistic view of the cryptocurrency industry under the Trump administration. Many U.S. industry players are hopeful about the next four years, expecting a more supportive environment for cryptocurrencies.

In a related development, the U.S. Securities and Exchange Commission (SEC) recently repealed SAB 121, a policy that had placed strict conditions on banks providing digital asset custody services.

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This policy change is seen as an important move toward greater integration of blockchain technology into traditional financial systems.

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