- Ripple gains licenses in New York and Texas enabling compliant cross-border payment services.
- XRP trades at $3.11 with slight daily gains but faces a weekly decline in performance.
- Ripple expands compliance with over 55 licenses boosting its global payment solutions.
Ripple has obtained Money Transmitter Licenses in New York and Texas. With these licenses, Ripple can offer compliant cross border payment services in both states. The company will manage transactions end-to-end for its clients hence ensuring seamless operations.
Ripple reported high demand for its real-time payment solutions from banks and cryptocurrency businesses in New York and Texas. These services provide faster, cost-efficient, and uninterrupted payment options. The company emphasized its ability to meet the needs of financial institutions and crypto firms.
XRP Price Movements
XRP is currently trading at $3.11, which represents a 0.06% increase over the last 24 hours. Over the past week, it has plummeted by 1.88%. The market cap stands at $179.02 billion, which is an 0.03% increase on the last day. The 24-hour trading volume has decreased by 43.36% to $8.2 billion.
Expanding Licensing Portfolio
Ripple now owns over 55 MTLs, with licenses in 33 U.S. states. The company also has significant certifications, such as the New York BitLicense and a Limited Purpose Trust Company Charter. It is licensed in Singapore, Ireland, and Dubai, further strengthening its global compliance framework.
Favorable Regulatory Shifts
Ripple’s expansion comes amid changing regulations in the United States. Recently, traditional banks have found it easier to provide digital services. Policymakers have started to notice the potential of blockchain in financial innovation.
Ripple is still in a legal battle with the Securities and Exchange Commission. The SEC accused the company of unregistered securities sales in 2020. Ripple Labs requested the U.S. Court of Appeals for the Second Circuit to set an April 16, 2025, deadline for filing its cross-appeal brief in its ongoing legal battle with the SEC. The company expects more favorable outcomes under the current administration.
Ripple is pushing forward despite legal hurdles and criticism over political donations. It remains committed to advancing blockchain solutions for global payments.
