Ripple Expands US Footprint, Secures 50+ Licenses; Shiba Inu Community Pushes for ETF Approval

Ripple Secures Money Transmitter Licenses in New York and Texas

Ripple, a leading blockchain-based payments company, has obtained money transmitter licenses in New York and Texas, further expanding its regulatory footprint in the United States. This development brings Ripple's total US licenses to over 50 and its global regulatory approvals to more than 60. The company's payments business processed $70 billion in volume last year, doubling from the previous year, with new North American customers contributing to this growth.

Joanie Xie, Managing Director of North America at Ripple, commented on the news, stating, "We're continuing to see more interest from financial institutions and crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient, and 24/7 cross-border payments." Ripple's regulatory approvals include a New York BitLicense, a New York Limited Purpose Trust Company Charter, and a Major Payment Institution License from the Monetary Authority of Singapore. The company also has Virtual Asset Service Provider registrations with the Central Bank of Ireland and the Cayman Islands Monetary Authority.

Ripple is expanding its US presence, with approximately 75% of open positions based in the country and domestic hiring doubled compared to 2023. The company recently opened new, larger offices in San Francisco and New York. This announcement comes after the SEC introduced Staff Accounting Bulletin No. 122 (SAB 122), repealing the prior SAB 121. Banks and firms offering crypto custody services can now adjust their accounting to accommodate custodial crypto assets, substantially reducing the accounting challenges they may face. The move corresponds with the formation of a new crypto task force by the SEC aiming to facilitate practical regulatory frameworks and pathways for crypto services.

Shiba Inu Community Highlights 10 Reasons Why SHIB ETF Approval Is Inevitable

The Shiba Inu (SHIB) community remains hopeful that a SHIB ETF could soon gain approval from the U.S. Securities and Exchange Commission (SEC). In a tweet on Monday, "Shibizens," a Shiba Inu-focused news platform, outlined ten reasons why major financial institutions like BlackRock and Grayscale should list a SHIB ETF. The platform highlighted SHIB's "massive market opportunity," driven by its global base of over 1.3