Company now holds over 55 global licenses, processing $70 billion in transactions across 90 markets with doubled North American customer base.
Strategic expansion includes RLUSD stablecoin launch and increased US workforce, with 75% of new positions based domestically.
Favorable regulatory shifts and pro-crypto administration support growth, despite previous challenges with SEC over XRP classification.
Ripple, a leading blockchain payments firm, has secured two additional Money Transmitter Licenses (MTLs) in the United States, strengthening its foothold in the country’s financial landscape. The company on Monday that the new licenses will allow it to offer its real-time cross-border payment services in New York and Texas, two major financial hubs.
The latest approvals Ripple’s total global MTLs to over 55, including 33 across the United States. The company also holds a coveted New York BitLicense and a Limited Purpose Trust Company Charter, positioning it as one of the most regulated entities in the crypto space.
2025 kicks off with big wins for crypto in the US and Ripple’s growth: new MTL licenses in NY & TX, new customers onboarded, and ramping up hiring across the U.S. ⭐️ https://t.co/ZHmEracQN6
— Ripple (@Ripple) January 27, 2025
2025 kicks off with big wins for crypto in the US and Ripple’s growth: new MTL licenses in NY & TX, new customers onboarded, and ramping up hiring across the U.S. ⭐️
— Ripple (@Ripple)
Growing Demand for Crypto-Powered Payments in the US
Ripple’s expansion into New York and Texas comes at a time when financial institutions and crypto businesses are increasingly looking to integrate blockchain technology for faster and more cost-efficient cross-border transactions.
Joanie Xie, Managing Director of North America at Ripple, said the company continues to see interests from corporate institutions looking to explore the crypto ecosystem.
“We continue to see more interest from financial institutions and crypto businesses that want to access the benefits of crypto and blockchain for faster, cost-efficient, and 24/7 cross-border payments. 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,” said Xie.
“We continue to see more interest from financial institutions and crypto businesses that want to access the benefits of crypto and blockchain for faster, cost-efficient, and 24/7 cross-border payments. 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,” said Xie.
Ripple revealed that its payments network has processed approximately $70 billion in transaction volume across more than 90 markets, covering over 90% of daily foreign exchange transactions.
The company also reported that its North American customer base doubled last year, a sign of increasing institutional adoption of blockchain-based payment solutions.
Meanwhile, regulatory developments in the US appear to be tilting in favor of the crypto industry. The Securities and Exchange Commission (SEC) recently Staff Accounting Bulletin (SAB) 121, a policy that had previously restricted banks from offering digital asset custody services. This change, coupled with a more pro-crypto administration under President Donald Trump, has sparked optimism among industry players.
Ripple’s Strategic Growth and Future Outlook
Beyond securing new licenses, Ripple has been making strategic moves to solidify its position in the global payments’ industry. In December, the company launched its much-anticipated RLUSD stablecoin, which initially on the XRP Ledger and Ethereum. Ripple plans to integrate RLUSD into its payments network later this year, further enhancing its ecosystem.
The company has also ramped up its presence in the US, with CEO Brad Garlinghouse that 75% of Ripple’s job openings are now based in the country. Domestic hiring has doubled compared to 2023, and the firm recently expanded its offices in New York and San Francisco to accommodate its growing workforce.
Despite the new developments, the company is not without challenges. Ripple fought a prolonged legal dispute with the SEC over the classification of its XRP token. While a court ruled that XRP sales to retail investors were not securities transactions, Ripple was fined $125 million for violating US laws in its institutional offerings.
Despite these challenges, the firm remains optimistic about the industry’s future, particularly with the appointment of crypto-friendly officials in key regulatory positions under the new US administration.
