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Blockchain payments company Ripple Labs has secured money transmitter licenses in the US states of New York and Texas as CEO Brad Garlinghouse came out against a strategic Bitcoin reserve in the US.
The company said in a Jan. 27 notice that regulators in both states approved the money transmitter licenses. Ripple Labs reportedly now holds over 50 such licenses across different jurisdictions, which enables the company to offer US customers a cross-border payment solution.
Ripple CEO Says US Strategic Reserve Should Be Representative Of Crypto Industry
Ripple’s announcement follows an X post by Garlinghouse that said the potential US strategic crypto reserve should be “representative of the industry.” Instead of focusing solely on a single token or coin, such as Bitcoin (BTC) or Ethereum (ETH), Garlinghouse says the Donald Trump administration should create a multi-crypto reserve.
Some thoughts on maximalism… let me say this as clearly as I can – the crypto industry has a real shot, here and now, to achieve the many goals we have in common, IF we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.
• I own…
— Brad Garlinghouse (@bgarlinghouse) January 27, 2025
He added that he owns XRP, BTC and ETH, among “a handful of others.” Overall, he believes that the crypto space “has a shot” to achieve the many goals that industry leaders have in common, and urged the digital asset community to work together instead of “tearing each other down” to avoid a “zero-sum game.”
Garlinghouse’s post follows a backlash after he lobbied against a strategic Bitcoin reserve.
XRP Leads The Top 10 Cryptos In 24-Hour Gains
Ripple’s native XRP token was the best performer in the top 10 list of the largest cryptos by market cap, and saw its price rise more than 6% in the past 24 hours to trade at $3.11 as of 1:29 a.m. EST. The next best performer in the list was Cardano (ADA) with a 5% gain.
The XRP price jump coincided with a broader market gain. CoinMarketCap data shows that the valuation for the digital asset space rose more than 3% in the last 24 hours.
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