Ripple Clears Bar for XRP's Federal Payment System Integration
Ripple has taken another step towards integrating XRP into federal payment systems. The company's existing licensing structure meets the requirements of the PACE Act, which is currently making its way through Congress.
The PACE Act sets a specific bar for companies seeking direct access to Federal Reserve payment rails, including the need for money transmitter licenses from at least 40 states. Ripple holds over 50 such licenses, including approval in New York and Texas, where the state's BitLicense regime is notoriously tough.
Ripple also has an existing ISO 20022 messaging standard, which allows direct interoperability between FedNow and XRPL. This shared standard removes one of the biggest obstacles to connecting two networks that were never designed to talk to each other.