Ripple, a leading provider of enterprise blockchain solutions for payments, is set to expand its global footprint. The company has recently secured money transmitter licenses from various U.S. jurisdictions and Singapore's Monetary Authority, which will facilitate their operations in these regions. This information was revealed during the Well conference by Emy Yoshikawa, Ripple's Vice President.
The company's international payment network now allows customers to access almost complete global payout coverage in over 70 markets. As part of their expansion strategy, Ripple has also partnered with XRP Ledger's decentralized exchange to broaden global liquidity options.
In addition to expanding its geographical reach, Ripple is refining its payment technology to make the transfer of value as seamless as information flow. The upcoming Ripple Payments solution aims to provide an all-encompassing solution for financial institutions (FIs) and small and medium enterprises (SMEs) in more than 70 payout markets.
Onafriq, a digital platform focused on Africa's growth, plans to leverage Ripple Payments to create three new payment corridors that will connect Africa globally.
In other developments concerning the company, Ripple has seen success in the ongoing lawsuit filed by the Securities and Exchange Commission (SEC). The SEC's appeal was denied and charges against executives Brad Garlinghouse and Chris Larsen have been dropped. This legal victory marks a significant milestone for Ripple as it continues to expand its operations globally.
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