
Ripple has recently made news by securing licenses across key U.S. jurisdiction. The company now holds Money Transmitter Licenses (MLTs) in 50 states which will allow seamless complaint-first cross-border payment solutions. These licenses include approvals in states like New York, Texas renowned for their stringent regulatory standards.
Ripple Expanding Access to Blockchain-Powered Payments
This development indicates that the company is serious about regulatory compliance and innovation in cross-border transactions. With approvals in 50 states, the company can now help financial institutions and crypto businesses nationwide which would streamline the global payments for efficiency and cost-effectiveness.
Accelerating Crypto Adoption in Finance
With increasing interest in the blockchain technology and solutions, the company’s payment network has been adopted in 90+ markets. It is also known for handling $70 billion in payments volume. With secure infrastructure and the effort that the company is putting in for receiving regulatory compliance, these actions position it as a leader in advancing the use of digital assets in finance.
“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient 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,” said Joanie Xie, Managing Director of North America at Ripple.
Ripple’s expansion within US strengthens its position as a leader in the blockchain technology for making payments. With this current approval in New York and Texas, one of the most stringent regulatory standards, Ripple is staying strong and paving way for widespread adoption of digital assets in the financial sector.
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