Ripple, the company behind XRP is currently holding 31 Money Transmitter Licenses across New York and Texas. The acquisitions matter because both states follow strict rules including New York’s BitLicense framework.
Growing US Presence
Ripple is expanding its workforce recruitment by 200% while placing 75% of these new positions within United States locations. Ripple continues to demonstrate its US operations dedication through office expansion in San Francisco and New York to support its expanding workforce.
Market Opportunity
The US s leading the way in terms of crypto transactions, which reached $900 billion between 2023 and 2024. Furthermore, Data shows retail crypto use for payments will increase to approximately 29% in 2024 from 23% in 2022.
Product Development
Ripple intends to enable its RLUSD stablecoin for use within its payment platform infrastructure. Furthermore, it is clear that The market embraced RLUSD, resulting in a 42% increase of its market capitalization which now stands at $100 million.
License Expansion
The digital payments landscape favors Ripple because of the company’s expanded US operations and favorable regulatory changes and increase in crypto adoption. Long-term US market expansion appears to be a primary strategic goal for RLUSD following its market entry combined with its increased visibility in vital locations.
