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Ripple holds 50+ licenses surpassing PACE Act rules
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Ripple holds 50+ licenses surpassing PACE Act rules

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  • Ripple, the payments technology company behind the XRP Ledger, holds more than 50 money transmitter licences across the United States, surpassing the requirements set out in the proposed Payment Access to Cryptocurrency Entities (PACE) Act, according to crypto researcher SMQKE.
  • The PACE Act aims to establish a regulatory framework enabling digital asset companies to connect directly to Federal Reserve payment rails — including Fedwire, FedNow, and FedACH — without requiring a traditional bank charter.
  • Under the proposed legislation, applicants must secure money transmitter licences in at least 40 states, maintain one-to-one reserves, comply with the Bank Secrecy Act, and register as a covered provider with the Office of the Comptroller of the Currency.

Ripple's portfolio of more than 50 licences includes approval in New York, where the BitLicense is widely regarded as one of the most stringent digital asset regulatory regimes in the United States, and Texas, which also maintains rigorous oversight standards.

SMQKE argued on X that Ripple's existing licensing position means it already fulfils the compliance criteria the PACE Act would require for firms seeking direct access to Federal Reserve payment infrastructure.

A key technical advantage supporting Ripple's eligibility is its adoption of ISO 20022, the global banking messaging standard, which is also used by FedNow, enabling potential interoperability between the XRP (CRYPTO:XRP) Ledger and the Federal Reserve's instant payment platform.

The XRP (CRYPTO:XRP) Ledger is capable of millisecond-level transaction settlements, matching the real-time speed expectations of FedNow, which is designed to settle payments within seconds.

Ripple's licensing strategy was designed to satisfy both federal and state regulatory requirements simultaneously, positioning the company to respond rapidly if the PACE Act is enacted into law.

The PACE Act has bipartisan support and industry backing but remains a bill in progress through Congress, with final passage and OCC approval both required before any company could formally connect to Federal Reserve rails under the proposed framework.

Companies already compliant with the PACE Act's proposed standards, such as Ripple, are expected to hold a significant operational advantage over competitors should the legislation be enacted.

At the time of reporting, XRP price was $1.04.

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