Foresight News reported that, according to The Block, Ripple has obtained money transmitter licenses (MTL) in New York and Texas as it plans to expand its market share in the US domestic market. These licenses will allow Ripple Payments' customers to use its cross-border payment solutions in the US, with Ripple managing the transactions. Ripple stated that banks and crypto companies in these states have strong demand for compliant real-time global payment solutions.
Ripple said that with the crypto-friendly Trump administration taking office, the industry is confident about the development in the next four years, especially in the context of changes in the regulatory environment, traditional banks have increased their acceptance of crypto asset custody. Ripple also revealed that it has over 55 MTLs globally, including 33 in the US. In addition, Ripple also holds a New York BitLicense and a limited purpose trust company license, a major payment institution license from the Monetary Authority of Singapore, a virtual asset service provider registration from the Central Bank of Ireland, a virtual asset service provider registration from the Cayman Islands Monetary Authority, and an in-principle license approval from the Dubai Financial Services Authority.
Driven by the "Trump effect", Ripple's business expansion in the US has accelerated, with Ripple stating that 75% of its positions are now in the US, and domestic hiring will double by 2024, and it has also opened new offices in New York and San Francisco.
