The new licenses procured by Ripple in New York and Texas pave the way for a broader role in U.S. cross-border payments, especially for XRP.
Matthew Snider, MBA, chief investment officer at Digital Wealth Partners, recently explained why this latest development from Ripple matters for XRP.
Ripple’s Expanding Footprint
On Monday, Ripple disclosed it had acquired Money Transmitter Licenses (MTLs) from Texas and New York regulators.
These new licenses allow Ripple to offer regulated cross-border payment services to banks in the two states. Notably, at the core of Ripple’s payment solution is leveraging XRP and its new stablecoin, RLUSD, for real-time global payments.
With these additions, Ripple’s global licensing network now includes 55 licenses worldwide, covering 33 U.S. states.
According to Snider, this expansion is a clear sign of Ripple’s increasing influence and readiness to play a larger role in the U.S. financial system. He views it as a major move toward mainstream adoption.
“Their customers are lining up for real-time global payment options,” Snider said.
Essentially, Ripple’s customers, ranging from traditional banks to crypto firms, are eager to tap into these advanced payment capabilities, potentially benefiting XRP.
Ripple’s Growth Amid Legal Challenges
Snider also stressed that, despite ongoing legal battles, Ripple continues to show impressive growth. He pointed out that the company processed $70 billion in payments across 90+ global markets last year. Moreover, he cited that the company’s payment business expanded by twofolds in 2024.
In other words, Ripple’s ability to scale and attract new customers, even in the face of regulatory uncertainty, shows the demand for its services and the robustness of its technology.
Meanwhile, speculation around the potential close of the SEC lawsuit is growing. According to Snider, the nomination of pro-crypto Paul Atkins as SEC Chair “could accelerate things,” with major implications for Ripple’s future and the U.S. crypto industry at large.
“Think About It for a Minute”
To further emphasize Ripple’s commitment to expanding its reach both within the U.S. and globally, Snider cited that the company has significantly increased its U.S.-based hiring. Specifically, he stated that 75% of its open roles are now located domestically, with domestic hiring doubling since 2023.
Moreover, he stressed that Ripple’s launch of the RLUSD stablecoin on the XRP Ledger further proves the company is not slowing down.
“Think about it for a minute…a company facing legal battles is still growing this fast. That says something about where the market’s heading,” Snider noted.
According to him, the momentum Ripple is building suggests the latest licensing success may just be the beginning of a much larger wave of crypto adoption in the U.S.
Essentially, as Ripple secures more licenses and builds out its infrastructure, XRP’s role in global financial systems could receive further boosts.
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