Ripple secures money transmitter licenses in New York and Texas

• Ripple revealed on Jan. 27 that it recently secured Money Transmitter Licenses in New York and Texas.
• The cypto company behind XRP has over 50 MTLs and holds the BitLicense from New York.

Ripple has announced that the company recently secured key money transmitter licenses in the United States.

In an update on Monday, Jan. 27, Ripple said it had received Money Transmitter Licenses (MTLs) in New York and Texas. This brings the total number of MTLs the crypto company has secured to more than 50, it noted.

Ripple gets NY, Texas licenses

Importantly, the latest two US states where Ripple has notched the approvals make up two of the locations where it has registered massive growth in payments adoption. This includes across both major banks and crypto businesses.

The MTLs will allow Ripple to expand its services and products in New York and Texas. XRP creator Ripple plans to integrate its stablecoin RLUSD into these payment services.

“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock 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 who are ready to take advantage of the current landscape,” Joanie Xie, Ripple’s managing director of North America said.

As well as the over 50 MTLs that Ripple has secured across its payments, custody and stablecoin offerings, there’s also a BitLicense from the New Department of Financial Services, a Major Payment Institution License issued by the Monetary Authority of Singapore and VASPs from Ireland and the Cayman Islands.

Ripple’s milestone in the US comes as the digital assets space in the country records a turnaround amid fresh support from the pro-crypto Trump administration.

The Securities and Exchange Commission (SEC) under acting chair Mark Uyeda recently unveiled a crypto task force. The SEC also rescinded the controversial SAB 121.