Ripple Secures Money Transmitter Licenses in New York and Texas
- Ripple revealed on Jan. 27 that it recently secured Money Transmitter Licenses in New York and Texas.
- The crypto company behind XRP has over 50 MTLs and holds the BitLicense from New York.
Ripple has announced that the company recently secured key money transmitter licenses in the United States.
In an update on Monday, Jan. 27, Ripple said it had received Money Transmitter Licenses (MTLs) in New York and Texas. This brings the total number of MTLs the crypto company has secured to more than 50, it noted.
Ripple’s Expansion with NY and Texas Licenses
Importantly, the latest two US states where Ripple has obtained approvals represent significant areas of growth in payments adoption. This includes partnerships with major banks and crypto businesses in these regions.
The newly acquired MTLs will pave the way for Ripple to enhance its services and products in New York and Texas. The company also plans to integrate its stablecoin RLUSD into these payment services.
Joanie Xie, Ripple’s managing director of North America, stated, “We’re continuing to see more interest from financial institutions and crypto businesses that want to leverage the benefits of crypto and blockchain for faster, cost-efficient, and 24/7 cross-border payments. With our expertise in both crypto and traditional finance, Ripple is well-equipped to support companies looking to capitalize on the current market landscape.”
Ripple’s Regulatory Milestones
In addition to the 50+ MTLs obtained by Ripple for its various offerings, the company also holds a BitLicense from the New York Department of Financial Services, a Major Payment Institution License from the Monetary Authority of Singapore, and VASPs from Ireland and the Cayman Islands.
Ripple’s achievements in the US market coincide with a resurgence in the digital assets space, supported by the pro-crypto stance of the Trump administration. The Securities and Exchange Commission (SEC) under acting chair Mark Uyeda has established a crypto task force and recently revoked the controversial SAB 121.