Ripple Expands Payments Services in the U.S.

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Ripple, a notable provider of real-time gross settlement systems, is advancing its Ripple Payments services in the U.S., aiming to transform cross-border transactions within the country. W. Oliver Segovia, Ripple’s Senior Director stated that this initiative is a means to revolutionize the way transactions are conducted across borders domestically.

Ripple’s strategic move marks a significant step towards strengthening its presence in the U.S. market. In December 2023, Ripple registered in Ireland as a Virtual Asset Service Providers (VASPs) in its bid to provide services to clients across the European Economic Area once the Markets in Crypto Assets Regulation (MiCA) comes into force at the end of 2024.

Leveraging Ripple’s Global Expertise

Despite its previous emphasis on international operations, Ripple is now leveraging its money transmitter licenses (MTLs) in multiple states to introduce new product updates tailored specifically to the U.S. market.

This expansion is a testament of Ripple’s commitment to leveraging its global expertise in blockchain technology and payments to enhance services tailored to meet the unique requirements of the U.S. market. Meanwhile, Ripple’s recent insights report highlights compliance as a pivotal aspect for the future of decentralized finance.

Ripple to Showcase Innovation in San Francisco

As a way to mark the move, Ripple is planning a meet-up at its recently opened San Francisco headquarters to celebrate this expansion on Wednesday, the 7th of February, by 5pm. The program will include a panel discussion moderated by U.S. Managing Director Joanie Xie and guided by product heads Brendan Berry and Pegah Soltani.

David Schwartz, chief technology officer, will share his thoughts on the state of payments and blockchain technology at Ripple in 2024. This gathering will provide a forum for discussing the future of cross-border payments with stakeholders and showcasing Ripple’s creative ideas.

Building a Global Team

In line with its expansion strategy, Ripple is keenly recruiting talent across key global locations such as Bangalore, San Francisco, Toronto, and London. This recruitment drive underscores Ripple’s determination to nurture a diverse and skilled workforce to drive innovation and support its growth trajectory in reshaping cross-border payments globally.

The expansion of Ripple Payments services in the United States signals that Ripple is poised to play a significant role in reshaping the future of cross-border payments and reinforce its position as a leader in the fintech industry despite still treading water in terms of its prices.

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