Ripple Expands US Foothold with Key Licenses
San Francisco-based enterprise blockchain company Ripple has received Money Transmitter Licenses (MTLs) in New York and Texas, according to a Monday announcement.
The company now boasts more than 60 licenses around the globe.
New York and Texas are the third and second-biggest U.S. states by GDP, and the company says that there is significant demand for its payment products in them.
In October, the company also secured a key license in Dubai, expanding its presence in the MENA region.
Earlier, it also obtained regulatory approval to operate in Singapore, another popular crypto-hub.
Ripple's US expansion
As reported by U.Today, Ripple has also substantially expanded hiring in the U.S. in recent months after securing key wins on the regulatory front.
This is a stark contrast to the previous few years when the company was mainly focused on international expansion due to legal troubles on its home turf.
Alex DovbnyaNotably, Ripple is currently hiring a US policy manager for its office in Washington D.C. The new hire will help to advance the company's strategic goals by engaging with various policymakers.
Last year, the company also made a foray into the stablecoin sector with its Ripple USD (RLUSD) product.
Regulatory clarity?
For years, the company has been clamoring for regulatory clarity for years amid its protracted legal fight with the U.S. Securities and Exchange Commission (SEC).
With the new cryptocurrency-friendly SEC administration, it now hopes to turn a new page.
The company has repeatedly urged the new administration to drop the case that was originally started by former SEC Chair Jay Clayton back in 2020.
Recently, the San Francisco-based company requested a due date of Apr. 16 for its cross-appeal against the SEC.
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