Ripple prepares to expand payment business in the US

ripple Announces plans to expand payment business in the United States

Currently, 90% of blockchain companies’ business is Based outside the United StatesSenior Director and Head of Product Marketing, Ripple, Inc. W. Oliver Segovia, I mentioned it on LinkedIn last week.

Segovia said: “After being relatively quiet in the US regarding Ripple payments for the past three years, we are now ready to announce new product updates leveraging the Money Transfer License (MTL), which covers most US states. “

To kick off this effort, Ripple will host an event at its new headquarters in San Francisco on Wednesday (February 7) with representatives from payment companies including: Adien, marketa and Plaid Discuss the company’s “Blockchain and Payments Outlook”.

Segovia’s announcement comes weeks after Ripple announced an update. Encryption-enabled cross-border payment solution.

The new and enhanced Ripple Payments, formerly known as RippleNet, allows businesses to easily leverage blockchain to make faster, cheaper, and more efficient cross-border payments.

“Since our founding, Ripple has focused on creating products that solve real problems for real customers,” Ripple President Monica Long said in a news release. “This evolution of Ripple Payments represents an extension of our long-standing commitment to optimizing the cross-border payments experience through innovative technology.”

In one major update, Ripple Payments expands access to its global network of over 70 crypto and traditional payment markets, providing nearly 100% global payments coverage with a single onboarding To do.

Additionally, Ripple has secured more than 30 licenses across the United States, so the solution is being rolled out to a broader customer base, including small and medium-sized businesses (SMBs).

Meanwhile, PYMNTS spoke with Pat Thelen, Ripple’s vice president of global account management, in October about how they do this. Blockchain-driven innovation Progress in the payments industry is centered around programmability, immutability, and global transaction delivery.

“We think the tokenization of real-world assets is as exciting as anything out there,” Sellen said. “If you apply this technology to industries that have been around for a long time and have manual processes, illiquidity, and latency, there are some real opportunities to save a lot of money. We can get pretty smart as the case unfolds.”