In a new development that appears to spark excitement among XRP holders, Ripple’s adoption seemed to be soaring higher following reports that the cross-border payment firm now holds payment licenses across 31 states in the U.S.
It is worth noting that the licenses mentioned above are Money Transmitter Licenses (MTLs), which address the safety and integrity of the payments system in the Ripple blockchain.
Making this latest development public, WallStreetBulls, a renowned XRP influencer, took to his verified Twitter handle to sensitize his followers on the implications of the licenses for Ripple and XRP’s rising adoption.
Read Also: Western Union Adopts Ripple’s Solution and XRP for Optimized Money Transfers
WallStreetBulls also noted that two of the world’s leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), are yet to attain XRP’s height in terms of approved licenses across the United States.
The XRP influencer tweeted, “Ripple holds Money Transmitter Licenses in 31 U.S. states, a unique advantage not held by BTC or ETH. This paves the way for $XRP’s mainstream adoption.”
🚀 Ripple holds Money Transmitter Licenses in 31 U.S. states, a unique advantage not held by BTC or ETH. This paves the way for $XRP's mainstream adoption. MTLs allow legal money transmission, a game-changer for XRP alone in the crypto space! 💥 #XRP #CryptoNews
— WallStreetBulls (@w_thejazz) August 27, 2023
Ripple Still Hopes To Obtain Licenses From 19 Other States
Among the fifty states in the United States, Ripple has obtained licenses from 31 states, implying that Ripple has not earned regulatory approval from 19 states.
Among these 19 states, notable mentions include California, Texas, Florida, and New York. Aside from obtaining regulatory permission within the United States, Ripple spread its wings outside the United States borders when it got operational licensing from Singapore.
Crypto Community Reacts
As expected, crypto enthusiasts took to the comments section of WallStreetBulls’s tweet to share their thoughts on the XRP influencer’s claims.
Some Twitter users appear to praise XRP for seemingly achieving such a feat. Other crypto enthusiasts who seemed to have a better knowledge of crypto licensing pointed out some discrepancies that validated Ripple’s push to obtain regulatory approvals across States in the U.S.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Ripple CTO’s Enthralling Tweet Ignites XRP Price Speculation Among Enthusiasts
A verified Twitter user with the pseudonym Ed Brooks noted, “Ripple is a company. BTC and ETH are digital asset software code.”
Another Twitter user who seemed to elucidate further stated, “How would BTC and ETH get a money transmitter license?!?!? They are Networks. This may be one of the dumbest posts I’ve read today.”
Meanwhile, some crypto enthusiasts feel Ripple obtaining licensing in 31 states across the U.S. should not be a big deal, considering the fact that Ripple is a US-based crypto company.
“A blockchain-based “value transfer” company holds money (one form of value) transfer license in 31 out of 50 states where it was founded more than a decade ago. What a game changer!” A yet-to-be-identified Twitter user commented.
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