Ripple has recently gained two more Money Transmitter Licenses (MTLs) in the United States, one in New York and the other one in Texas, where there is a high demand for fast global payment from banks and crypto businesses.
These United States licenses allow Ripple to provide cross-border payment solutions and manage transactions for its customers.
With these two additions, Ripple now holds over 55 MTLs across U.S. states for its payment, custody, and stablecoin service. The company also holds a BitLicense in New York and a New York Limited Purpose Trust Company Charter.
Ripple has a Major Payment Institution License in Singapore, registrations as a Virtual Asset Service Provider in Ireland and the Cayman Islands, and a preliminary license from Dubai’s DFSA.
Joanie Xie, Ripple’s Managing Director for North America, explained that there is growing interest from both financial institutions and crypto businesses in using crypto and blockchain for faster and cheaper global payments.
Xie added, “With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies that are ready to take advantage of the current landscape.”
Ripple has processed around $70 billion in payments on its blockchain network. It has added many banks and financial institutions to its network and doubled its North American customers last year.
There was a lawsuit ongoing between Ripple and the Securities and Exchange Commission over claims that XRP was an unregistered security. The court ruled that XRP sales to regular customers were legal, but Ripple was fined $125 million for breaking laws with institutional sales.
However, with the change in US leadership, Ripple is hopeful about the future of crypto in the country. The Trump administration had appointed crypto-friendly leaders for two major regulators and set up a group to make recommendations on digital asset policies.
Also Read: Ripple vs SEC Update: Ripple Request for April 16, 2025 Deadline
