Ripple is upgrading its crypto-enabled cross-border payments solution, also known as Ripple Payments. This offering is aimed at enhancing enterprise-grade blockchain infrastructure, making faster, cheaper, and more efficient cross-border payments accessible to businesses.

In the official statement published today (Wednesday), the cross-border remittance network noted that the global financial space is witnessing a shift as more companies and legacy payment institutions are investing in blockchain integration. Over 80% of global financial firms are expected to incorporate cryptocurrencies into their operations in the next three years.

Currently, Ripple offers expanded access to its extensive global network of over 70 crypto and traditional payout markets. This has resulted in nearly 100% global payout coverage through a single onboarding process.

Ripple's Licensing and Payments Expansion

Ripple has over 30 licenses, including a Major Payments Institution license from the Monetary Authority of Singapore and Money Transmitter licenses across the United States. The company is expanding its solutions to reach a broader customer base, including small and medium-sized enterprises.

Monica Long, the President at Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term, said: "Ripple has led the way in addressing key components of crypto financial infrastructure, including liquidity, off-ramps, tokenization, custody, and compliance. Bringing these elements together within Ripple Payments for an intuitive end-to-end enterprise experience is the natural next step for Ripple to make crypto's benefits accessible for any business."

Introducing Ripple Payments—the next evolution of Ripple’s payments product delivering a licensed end-to-end solution for FIs and SMEs with 70+ payout markets, expanded crypto liquidity options, integration with the XRP Ledger DEX, and much more.https://t.co/khOxtCnXin

— Ripple (@Ripple) November 8, 2023

One of the first customers to leverage the enhanced Ripple Payments is RocketFuel, a global payments solution company serving merchants looking to send or accept payments in crypto or fiat. Ripple Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term will facilitate the entire payment flow, offering a wide range of payout currencies worldwide, enabling RocketFuel to meet the rising demand for direct payments to merchants and their customers.

Regulatory Win Propels Ripple

Meanwhile, the US Securities and Exchange Commission (SEC) officially cleared Ripple's executives specifically, Brad Garlinghouse, the CEO, and Chris Larsen, the Executive Chairman last month, dismissing all allegations brought against them in the lawsuit that accused XRP of being unregistered securities.

The SEC's decision marks the conclusion of a prolonged legal battle that saw the regulatory body pitted against Ripple, Garlinghouse, and Larsen. The SEC initiated the lawsuit in late 2020, alleging that XRP, a cryptocurrency linked to Ripple, was an unregistered security. After an extended legal struggle, a US court ruled in favor of Ripple in July. The SEC, dissatisfied with the verdict, appealed the decision, but the court rejected the appeal again earlier this month.