28.01.2025 10:41
Ripple, one of the key players in the cryptocurrency sector, has accelerated its regulatory compliance efforts to increase its presence in the U.S. market. Following the opening of new offices in New York and San Francisco, the company is now expanding its regulatory approvals by obtaining 'Money Transfer Licenses' in New York and Texas.
The digital asset infrastructure company Ripple is strengthening its presence in the U.S. under the new Trump administration, which has a positive approach to cryptocurrency. The company, which has obtained 'Money Transfer Licenses' in New York and Texas, has increased its global money transfer license (MTL) count to over 55. Ripple has doubled its local employment while moving 75% of its open positions to the U.S. by 2023.
The Trump Administration Creates New Opportunities for Ripple
Ripple continues its expansion plans in the U.S. The new MTLs provide Ripple Payments customers with access to licensed cross-border payment solutions in the U.S.
As interest from the financial sector grows, Ripple's North America General Manager Joanie Xie noted that the number of institutions looking to leverage the advantages of cryptocurrency and blockchain technology is on the rise.
Ripple Payments doubled its transaction volume last year, reaching a transaction volume of $70 billion across more than 90 markets. The company also launched the RLUSD stablecoin in December.
Taking significant steps towards regulatory compliance, Ripple holds critical licenses such as the New York BitLicense and the Limited Trust Company License. The company has also obtained important licenses from Singapore, Ireland, the Cayman Islands, and Dubai.