Ripple Gears Up to Revolutionize US Cross-Border Payments, Expanding Payment Services and Leveraging XRP as Crucial Bridge Currency
In a recent announcement, Ripple, a leading figure in real-time gross settlement systems, revealed its intentions to broaden its Ripple Payments services within the United States, as unveiled by Senior Director W. Oliver Segovia.
Despite maintaining a relatively subdued presence in the U.S. market over the past three years, Ripple is poised to roll out new product updates fueled by its money transmitter licenses (MTLs), covering a significant portion of states nationwide. With a substantial 90% of its business conducted outside the United States, Ripple aims to capitalize on its global stature by enhancing services in the U.S. market. The forthcoming product updates are expected to harness Ripple's expertise in blockchain technology and payments, offering streamlined solutions for cross-border transactions within the U.S.
To kickstart this initiative, Ripple will host a meetup at its newly 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 insights to a discussion on Ripple's blockchain and payments outlook for 2024.
In line with its expansion strategy, Ripple is actively recruiting talent across various global locations, including Bangalore, San Francisco, Toronto, and London.
What is Ripple Payments? Ripple Payments is a service that leverages XRP as a bridge currency, offering swift transaction settlements within seconds, cost-effectiveness compared to traditional methods, transaction transparency via a public ledger, and security through a consensus mechanism.
