The latest additions include Texas and New York, two states recognised for their stringent regulatory standards and defined compliance frameworks. The San Francisco-based company noted that demand for real-time global payments continues to grow, particularly from banks and cryptocurrency businesses.
In addition to its MTLs, Ripple holds several important licences and registrations. These include a BitLicence and a Limited Purpose Trust Company Charter in New York, as well as Virtual Asset Service Provider (VASP) registrations with the Central Bank of Ireland and the Cayman Islands Monetary Authority. The company has also secured a Major Payment Institution Licence from the Monetary Authority of Singapore.
Ripple’s Managing Director for North America emphasised that financial institutions and cryptocurrency businesses are increasingly exploring blockchain and crypto-based solutions to facilitate cost-effective, 24/7 cross-border payments. She highlighted Ripple’s background in working with both traditional financial institutions and crypto firms, positioning the company to address evolving market needs effectively.
Ripple, which operates XRP, the third-largest cryptocurrency by market capitalisation, has recently introduced its own stablecoin, Ripple USD (RLUSD). While RLUSD is currently limited to select exchanges, the company plans to expand its availability in the coming months.
In 2024, Ripple doubled its domestic hiring efforts in the United States, with 75% of its open positions based in the country. This aimed to underscore its commitment to the US as an important market for its operations.
According to cryptonews.com.au, XRP has shown resilience in market performance, experiencing a smaller decline compared to competitors in the context of a wider cryptocurrency market sell-off. While Ethereum (ETH) and Solana (SOL) recorded losses of 3% and 4% respectively, XRP saw a decline of just 0.5%. The market downturn has been attributed to several uncertainties, including the activity surrounding DeepSeek, a Chinese artificial intelligence initiative.
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