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

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 Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President

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.

Ripple’s Growing Global License Portfolio

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

This includes the well-known New York BitLicense and a Limited Purpose Trust Company Charter—important assets that solidify Ripple’s position in both the financial and crypto sectors.

Joanie Xie, Ripple’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.

“With 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.”

A Powerful Client Base

Ripple’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.

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A Bright Future for Crypto in the U.S.

Ripple’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.

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