Blockchain company Ripple has successfully obtained money transmission licenses in the states of New York and Texas, a significant step in expanding its operations in the United States. These licenses, essential for providing remittance payment services in compliance with laws, strengthen Ripple’s ability to offer faster and more efficient payment solutions to financial institutions and cryptocurrency businesses. According to Ripple, these licenses allow its payment service customers to use authorized versions of remittance payment systems, ensuring that all transactions are managed by Ripple. Ripple stated that New York and Texas, due to increased demand from banks and other companies active in the cryptocurrency sector, have shown the most interest in instant remittance payments. With these licenses, the total number of Ripple’s money transmission licenses has exceeded 55 globally, with 33 of them in the United States. Ripple’s efforts to obtain these licenses align with the company’s plans to expand its global payment network. Currently, Ripple enables transactions in over 90 markets, equivalent to more than 90% of the daily forex market turnover. Last year, the processed payment volume by Ripple reached $70 billion, doubling the volume of the previous year. Ripple acquired these new licenses at a time when the Trump administration showed a positive stance towards cryptocurrencies. Last week, the US Securities and Exchange Commission (SEC) revoked the stringent guideline SAB 121, which had imposed challenging conditions on banks providing digital asset custody services. This policy change is seen as another step towards integrating blockchain technology with traditional financial systems. At the time of writing this news, Ripple is trading around $3.11, showing a 7.5% growth compared to the previous day and demonstrating better performance compared to other top cryptocurrencies in the market. On the real-time digital currency prices page, you can view the prices of all tokens and cryptocurrencies live and instantaneously.
