Prominent crypto payment firm Ripple is now moving to revolutionize cross-border payments in the United States with XRP through its Ripple Payments services.
Ripple Bringing XRP to the U.S. Market
Ripple announced this development through its Senior Director and Head of Product Marketing for Payments, Oliver Segovia. The Ripple senior director recently disclosed on LinkedIn that the payment firm plans to expand its footprint locally, particularly in the U.S.
Segovia conveyed that 90% of Ripple’s businesses cater to entities abroad despite having its global headquarters in the U.S. In particular, he admitted the American crypto payment firm has maintained a subdued presence in the U.S. market for the past three years.
However, quiet is about to end as Ripple gears to introduce product innovations leveraging its local money transmitter licenses (MTLs). Recall that Ripple holds over 31 MTLs in the United States, as The Crypto Basic has uncovered.
At the heart of this expansion lies Ripple Payments, a service leveraging XRP as a bridge asset. This crypto-based payment solution guarantees rapid transaction settlements within seconds for a fraction of the cost of traditional methods.
With an overwhelming 90% of its business conducted beyond U.S. borders, Ripple aims to capitalize on its global expertise by enhancing services domestically.
Steps to Kick off This Transformative Journey
Under its expansion strategy, Ripple is actively seeking talent across multiple global hubs, including San Francisco.
Furthermore, Ripple’s senior director for payments revealed that they are initiating the momentum by hosting a fintech meetup. The event will feature a casual panel discussion on Ripple’s 2024 outlook for blockchain and payments.
Notably, this session will be led by Ripple’s product heads, Brendan Berry and Pegah Soltani. Ripple’s U.S. Managing Director, Joanie Xie, will moderate the session.
Also, Ripple’s Chief Technology Officer, David Schwartz, will be participating in the fintech meetup.
Moreover, Segovia extended an invitation to join individuals from Adyen, Marqeta, Plaid, and other companies for a happy hour immediately following the event.
Notably, this event will take place at Ripple’s recently inaugurated San Francisco Headquarters. The gathering is scheduled for Wednesday, February 7th, from 5:00 PM to 7:30 PM PST. Besides, those planning to attend can reserve their spot at the dedicated portal.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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