Ripple was awarded financial licenses in New York and Texas, allowing the firm to extend its payment services to more U.S. users.
Blockchain payment giant Ripple (XRP) reportedly obtained Money Transmitter Licenses in New York and Texas as firms prepared for a crypto-friendly regulatory regime under President Donald Trump.
The news, first reported by The Block, stated that Ripple noted growing interest from banks and other institutions for approved real-time payment options. MTL licenses from New York and Texas regulators will permit compliant access to Ripple Payments infrastructure for U.S. customers, expanding the company’s services to a broader user base.
Furthermore, the two MTLs have added to Ripple’s overall portfolio of licenses. The crypto company now holds some 55 global licenses, including the highly coveted New York BitLicense and a Limited Purpose Trust Company Charter. Ripple also boasts regulatory approval in Ireland, Singapore, and the United Arab Emirates.
The XRP issuer has been at the forefront of crypto conversations heading into the Trump administration. Ripple has donated heavily to crypto-focused super PACs like Fairshake, which support pro-crypto candidates at both state and federal levels.
Additionally, the firm has launched its RLUSD (RLUSD) stablecoin in a $220 billion fiat-pegged token market dominated by Tether (USDT). Despite being a new entrant, some have surmised that Ripple’s play could signal forthcoming U.S. stablecoin regulations.
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Ripple was awarded financial licenses in New York and Texas, allowing the firm to extend its payment services to more U.S. users.
Blockchain payment giant Ripple (XRP) reportedly obtained Money Transmitter Licenses (MTLs) in New York and Texas as firms prepared for a crypto-friendly regulatory regime under President Donald Trump.
The news, first reported by The Block, stated that Ripple noted growing interest from banks and other institutions for approved real-time payment options. MTL licenses from New York and Texas regulators will permit compliant access to Ripple Payments infrastructure for U.S. customers, expanding the company’s services to a broader user base.
Furthermore, the two MTLs have added to Ripple’s overall portfolio of licenses. The crypto company now holds some 55 global licenses, including the highly coveted New York BitLicense and a Limited Purpose Trust Company Charter. Ripple also boasts regulatory approval in Ireland, Singapore, and the United Arab Emirates.
The XRP issuer has been at the forefront of crypto conversations heading into the Trump administration. Ripple has donated heavily to crypto-focused super PACs like Fairshake, which support pro-crypto candidates at both state and federal levels.
Additionally, the firm has launched its RLUSD stablecoin in the $220 billion fiat-pegged token market dominated by Tether (USDT). Despite being a new entrant, some have speculated that Ripple’s stablecoin move could signal forthcoming U.S. stablecoin regulations.
Members of Congress have discussed stablecoin laws in the House of Representatives, with bills negotiated between senior lawmakers. Experts such as Bitwise CIO Matt Hougan opined that stablecoin rules could have a greater impact on the digital asset industry than spot Bitcoin products, an asset class with over $123 billion in investor capital.
