u.today
Ripple, a prominent player in real-time gross settlement systems, has disclosed plans to extend its Ripple Payments services within the United States, as announced by Senior Director W. Oliver Segovia.
Despite a relatively subdued presence in the U.S. over the past three years, Ripple aims to introduce new product updates driven by its money transmitter licenses (MTLs), encompassing a substantial portion of states.
With 90% of its business conducted outside the United States, Ripple seeks to leverage its global standing by enhancing services in the U.S. market. The forthcoming product updates are anticipated to capitalize on Ripple's proficiency in blockchain technology and payments, offering streamlined cross-border transaction solutions within the U.S.
To inaugurate this development, Ripple will host a meet-up at its recently established San Francisco headquarters. The event will feature a panel discussion led by Brendan Berry and Pegah Soltani, heads of product, with moderation by U.S. Managing Director Joanie Xie. Chief Technology Officer David Schwartz will also contribute to a discussion on Ripple's blockchain and payments outlook for 2024.
Aligned with its growth strategy, Ripple is actively recruiting across various global locations, including Bangalore, San Francisco, Toronto and London.
What is Ripple Payments?
Ripple Payments is a service that utilizes XRP as a bridge currency and provides benefits such as swift transaction settlements within seconds, cost-effectiveness compared to traditional methods, transaction transparency via a public ledger and security through a consensus mechanism.
This expansion signifies a strategic move for Ripple, positioning the company to play a crucial role in reshaping cross-border payments within the United States.