Ripple Secures 50+ MTLs, Banks Embrace XRP for Cross-Border Payments

Ripple, the blockchain-based payment protocol, has made significant strides in enabling major banks to adopt XRP for cross-border payments. The company has secured over 50 Money Transmitter Licenses (MTLs) across the U.S., including approvals in highly regulated states such as New York and Texas. These licenses give Ripple the legal authority to facilitate payment services using XRP and RLUSD, its newly launched stablecoin.

This regulatory framework is crucial for financial institutions looking to integrate XRP into their payment networks. Ripple has eliminated many legal uncertainties that previously hindered institutional adoption by securing compliance with U.S. financial laws. This progress significantly strengthens XRP’s position as a viable asset for cross-border transactions.

With these regulatory approvals in place, major banks, including Bank of America and Santander, are now in a position to utilize XRP for international payments. The infrastructure required for institutional use is already established, making it easier for financial entities to adopt XRP without legal complications.

Public discussion around XRP’s institutional use has intensified following comments from David Stryzewski of Sound Planning Group. During a televised segment, Stryzewski claimed that Bank of America runs 100% of its internal transactions using XRP. While this claim remains unverified, it has fueled speculation about the extent of XRP’s adoption by major financial players.

Despite its legal challenges with the SEC, Ripple continues to expand its presence in the U.S. financial sector. The company now holds 55 global licenses spanning 33 states, reinforcing its ability to operate within regulatory frameworks. Ripple’s growth is also reflected in its transaction volumes, with the company processing $70 billion in payments in Q4 of 2024.

However, some investors remain concerned about XRP’s performance. One user questioned why XRP’s price has not seen significant gains, despite institutional interest. XRP is currently trading at $2.19, after multiple significant drops during the week. SMQKE, a cryptocurrency researcher, addressed these concerns by pointing to XRP’s historical performance. He noted that XRP has surged tenfold from $0.30 to $3.30 and has posted a one-year gain of 247%, outperforming Bitcoin and Ethereum.