Key Highlights:
- Ripple acquires Money Transmitter Licenses (MTLs) in New York and Texas, strengthening its U.S. footprint.
- Pro-crypto regulatory shifts under the new Trump administration promise a favorable landscape for blockchain innovation.
- Ripple’s XRP payments ecosystem continues to see rapid growth, boasting $70 billion in global transaction volume.
Ripple’s Milestone Achievements in U.S. Crypto Regulation
Ripple, a leader in digital asset infrastructure, has secured Money Transmitter Licenses (MTLs) in New York and Texas. These licenses enable Ripple’s customers to access compliant cross-border payment solutions powered by blockchain. With these additions, Ripple now holds over 55 global MTLs, including licenses in 33 U.S. states.
Ripple’s Managing Director of North America, Joanie Xie, shared:
“We’re seeing growing interest from both financial institutions and crypto businesses eager to harness blockchain’s speed and efficiency for global payments.”
Expanding Regulatory Framework and Ripple’s Global Licenses
Ripple’s licensing achievements include:
| License | Jurisdiction | Purpose |
|---|---|---|
| New York BitLicense | New York, USA | Digital currency operations |
| Limited Purpose Trust Company Charter | New York, USA | Secure custodial services |
| Major Payment Institution License | Singapore | Cross-border payments and remittances |
| Virtual Asset Service Provider (VASP) | Ireland and Cayman Islands | Cryptocurrency trading and custody |
| In-Principle Approval | Dubai Financial Services Authority | Crypto exchange and payment services |
Pro-Crypto Regulatory Shifts Under Trump Administration
Ripple’s expansion aligns with a pro-crypto regulatory landscape anticipated under the new administration. Recent moves, such as the Securities and Exchange Commission’s (SEC) decision to repeal SAB 121, now allow traditional banks to custody digital assets.
Ripple has expressed optimism, stating:
“A growing number of policymakers and regulators recognize the importance of digital asset innovation, paving the way for broader adoption.”
Ripple’s Ongoing Legal Battle with the SEC
Ripple’s regulatory journey hasn’t been without hurdles. The SEC accused Ripple of selling unregistered securities through XRP in 2020. While a partial victory in 2023 declared Ripple’s programmatic sales non-violative, institutional sales were ruled as securities transactions. Ripple paid $125 million in fines and continues to face legal challenges, with an appeal filed by the SEC in late 2024.
Ripple’s Growing U.S. Market Presence
Ripple’s U.S. operations have surged, fueled by a wave of domestic hiring and new offices in New York and San Francisco. The company also introduced its RLUSD stablecoin, integrated into its payments network.
Ripple Payments reported $70 billion in transaction volume across more than 90 markets in 2024, highlighting growing demand for its blockchain solutions.
As the crypto industry anticipates transformative years ahead, Ripple is positioning itself as a key player in shaping the future of digital payments.
