Ripple Gains Money Transmitter Licences in Key US Markets

Ripple has increased its number of Money Transmitter Licenses (MTLs) to 55 globally, with the latest additions being Texas and New York. These states are two significant add-ons as the company has experienced a lot of demand “for real-time global payments from both banks and crypto businesses”.

In a press release, the San Francisco-based company commented on the significance of acquiring the MTLs:

Texas and New York have defined regulations and stringent licensing requirements with robust compliance standards and regulatory oversight.

Ripple

Apart from a BitLicense and Limited Purpose Trust Company Charter for New York, Ripple also has a Virtual Asset Service Provider (VASP) registration with the Central Bank of Ireland and the Cayman Islands Monetary Authority.

Additionally, they secured a Major Payment Institution License from the Monetary Authority of Singapore.

Related: US President Trump Moves Closer to Digital Asset Reserve, Bitcoin Not Mentioned

Joanie Xie, Managing Director of North America at Ripple, said there’s increasing interest “from financial institutions to crypto businesses” which want to access crypto and blockchain solutions for “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.

Joanie Xie, Managing Director of North America at Ripple

Ripple Sees Demand for Crypto Increase

The company behind XRP, the third-largest crypto by market cap, said it continues to see adoption and interest increase in the space. They recently launched their own stablecoin, Ripple USD (RLUSD), which is currently only available on a handful of exchanges, but is expected to expand over the coming months.

Ripple is also reinforcing its commitment to the US as a business location, with 75% of open positions in the States and having doubled its domestic hiring in 2024.

With all the activity and news around the company, XRP has performed somewhat better than its competitors in terms of price. While Ethereum (ETH) and Solana (SOL) dropped 3% and 4% respectively, XRP managed to only fall by half a percent.

Related: Ripple Accused of Blocking Strategic Bitcoin Reserve while Senator Lummis Set to Lead Crypto Taskforce

The downward trend comes among a broader market sell-off as DeepSeek, a Chinese artificial intelligence project stirs up markets.

XRP is currently trading for US$3.03 (AU$4.82), a 38% increase over the past month and a 471% increase from a year ago when the coin traded for a mere US$0.52 (AU$0.82).