Ripple has recently acquired two additional Money Transmitter Licenses (MTLs) in the United States, further expanding its reach in the country’s financial market.
These licenses were obtained in New York and Texas, two states with a high demand for efficient global payment services from banks and crypto businesses. With the acquisition of these licenses, Ripple is now able to offer cross-border payment solutions and facilitate transactions for its clients.
This brings the total number of MTLs held by the company in the US to over 55, covering its payment, custody, and stablecoin services. In addition, Ripple also holds a BitLicense in New York and a New York Limited Purpose Trust Company Charter.
But Ripple’s presence is not limited to the US market alone. The company also holds a Major Payment Institution License in Singapore, registrations as a Virtual Asset Service Provider in Ireland and the Cayman Islands, and has received a preliminary license from Dubai’s DFSA.
According to Joanie Xie, Ripple’s Managing Director for North America, there is a growing interest from both financial institutions and crypto businesses in utilizing blockchain and cryptocurrency for faster and more cost-effective global payments.
