Ripple to expand US payments after ‘being relatively quiet’

Ripple senior director and head of product marketing W. Oliver Segovia revealed on social media that the firm intends to grow its payment services across the U.S.

Segovia acknowledged on LinkedIn that while 90% of Ripple’s business operations are conducted outside the U.S., the company is poised to make waves with the announcement of upcoming product updates driven by its money transmitter licenses (MTLs).

The MTLs will now extend to the majority of U.S. states.

To kick off this phase, Ripple will be organizing a fintech meetup at its newly inaugurated San Francisco headquarters. The event will feature an engaging panel discussion on Ripple’s blockchain and payments outlook for 2024, led by heads of product Brendan Berry and Pegah Soltani, and moderated by U.S. managing director Joanie Xie.

Ripple Chief Technology Officer David Schwartz is also expected to join the discussion.

Following the panel, attendees will have the opportunity to network with professionals from Adyen, Marqeta, Plaid, and more during a casual happy hour. The event is scheduled for Wednesday, Feb. 7, starting at 5 pm at Ripple’s new headquarters located at 600 Battery St. Registration.

Those interested are encouraged to sign up promptly, with the option to contact for priority access through the waitlist.

In alignment with its strategic growth plan, Ripple is actively recruiting across various global locations, including Bangalore, San Francisco, Toronto, and London.

Asset managers gear up for XRP ETF launch 

U.S.-based asset management firms, including major players like BlackRock and Grayscale, are set to submit applications for a Ripple (XRP) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) in April, possibly leading to a launch by the end of 2024.

This decision follows a U.S. district judge’s ruling declaring XRP as “not a security,” creating excitement and speculation in the cryptocurrency market. The prospect of an XRP ETF has drawn considerable attention, sparking discussions among industry experts and influencers.

BlackRock, a global asset manager overseeing over $8.5 trillion in assets, is anticipated to play a crucial role in the XRP ETF launch. The anticipation is heightened by ongoing legal developments and regulatory uncertainties still surrounding XRP.

The potential introduction of an XRP ETF holds broader implications for the cryptocurrency market, increasing XRP accessibility for traditional investors and solidifying its non-security status.