Ripple Teases New Product Updates for US-based Clients
Ripple’s Oliver Segovia, the Senior Director and head of Product Marketing for the payments division, has hinted at an upcoming development for Ripple’s US-based clients and users. Segovia revealed that they are planning to announce new product updates that will be powered by their money transmitter licenses (MTLs), which cover most US states.
Preparing to Overcome Regulatory Hurdles
This announcement indicates that Ripple is preparing to roll out its payment solutions within the US, despite the ongoing legal battle with the US Securities and Exchange Commission (SEC) regarding the classification of XRP as a security. Despite these regulatory challenges, Ripple is determined to expand its presence in the US market.
The Advantages of Ripple Payments
Ripple Payments is a service offered by Ripple that utilizes XRP as a bridge currency. It aims to provide several advantages over traditional finance settlement systems, including faster execution speeds and lower fees. However, until now, Ripple’s payment products have primarily focused on markets outside of the US.
“90% of our business is outside the United States. After being relatively quiet for the past 3 years in the US for Ripple Payments, we’re geared up to announce new product updates powered by our money transmitter licenses (MTLs) that cover the majority of US states.” – Segovia
Expanding Operations and Hiring in the US
In addition to introducing new product updates, Ripple is also expanding its operations in the US. This expansion includes hiring new employees to support their growth initiatives within the country.
Hot Take: Ripple Prepares to Make Waves in the US Market
Ripple’s announcement of new product updates and expansion in the US market demonstrates their determination to overcome regulatory challenges and provide their payment solutions to clients in the country. By leveraging their money transmitter licenses, Ripple aims to offer faster and more cost-effective payment options compared to traditional systems. This move signifies Ripple’s commitment to expanding its presence and disrupting the US payments industry.
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