Ripple Secures New Licenses in New York, Texas, and Texas
Monday, 27/01/2025 | 15:00 GMT
by Arnab Shome
- The company now has more than 55 money transfer licenses in the US. Since 2023, the company’s number of new hires in the US has doubled.
Ripple announced today that it has secured two more money transfer licenses in the United States—one from New York and one from Texas. These strategic licenses respond to strong demand for real-time payments.
This acquisition brings its total number of US Money Transmitter Licenses (MTLs) across its payments, custody and stablecoin businesses to over 55.
The company also holds a BitLicense from New York as well as another NY Limited Purpose Trust Company charter.
Ripple provides cross-border payment services enabled by these MTLs which lets them process client transactions seamlessly.
Joanie Xie is Ripple’s Managing Director for North America. Photo: LinkedIn.
Joanie Xie stated:
“We’re witnessing increasing interest from financial organizations and crypto businesses eager to exploit crypto and blockchain capabilities for faster cross-border payments.”
Ripple continues to develop relationships with an expanding roster of financial institutions, doubling its North American customer base over the past year.
[Enhanced clarity]
Betting on Growth in the US:
With ongoing litigation against the SEC regarding XRP token definitions, there’s cautious optimism as regulatory environments shift under newer administration policies.
Noting a significant uptick post-COVID shifts, Ripple maintains that approximately 75% of hiring is within US borders—a figure that’s seen drastic growth since early 2023 amidst growing opportunities.
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Arnab is a seasoned financial editor with a background in electronics engineering. He began his career by covering the cryptocurrency market for AskFX and has since broadened his focus to include foreign exchange. He is deeply interested in the evolving regulatory landscape of financial markets and diligently tracks industry disruptions caused by emerging technologies.
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