TLDR
- Girin Card secures FinCEN MSB registration, strengthening its compliance framework for crypto payments and card operations.
- The card supports self-custody spending through XRP and RLUSD across Visa merchants in over 150 countries.
- Ripple’s validator backs XLS-65 and XLS-66 as XRP Ledger voting continues toward the activation threshold.
- XLS-65 has gained about 40% support, while XLS-66 has received more than 37% from validators.
- Both XRPL amendments require over 80% validator support for two continuous weeks before activation.
Girin Card has secured Money Services Business registration with FinCEN, adding a U.S. compliance layer to its crypto payment product. The registration covers certain fiat and virtual currency activities and supports the company’s plans for broader payment operations.
Girin Card Gains U.S. MSB Registration
Girin Card has obtained Money Services Business registration with the Financial Crimes Enforcement Network, a bureau of the U.S. Treasury Department. The registration falls under the Bank Secrecy Act and requires the implementation of an anti-money laundering and counter-terrorism financing program.
The registration covers certain activities involving fiat and virtual currencies under the company’s payment model. Girin said the compliance framework is designed to support banking relationships, payment processing and partnerships with financial institutions.
The company said the registration provides a regulatory foundation for its crypto-native card program. Girin Card is designed to allow users to spend supported digital assets while keeping funds in self-custody until a payment is made.
Card Connects Crypto Payments to Visa Network
Girin Card connects with Girin Wallet and allows users to spend supported digital assets through card payments. The company said the wallet has more than 150,000 users on the XRP Ledger, while the card can be used at more than 130 million Visa merchants across more than 150 countries.
The card is available in virtual and physical formats and supports Apple Pay, Google Pay and Samsung Pay. Users can convert XRP or RLUSD into fiat during a transaction through integrated liquidity partners, while merchants receive fiat through existing payment networks.
Girin said the system keeps user assets in self-custody until the point of sale. The company also plans to develop enterprise APIs and white-label infrastructure for partners seeking to launch their own card programs.
Ripple Validator Supports XRPL Lending Amendments
Separately, Ripple’s validator has backed two proposed amendments on the XRP Ledger as validator voting continues. XLS-65 would introduce Single Asset Vaults, while XLS-66 proposes a Lending Protocol for the network.
XLS-65 has received about 40% support, while XLS-66 has gained more than 37%, based on the latest voting figures. Both remain below the 80% threshold required for an amendment to activate on the XRP Ledger mainnet.
The proposals must maintain more than 80% support from trusted validators for two continuous weeks before activation. Under the current default Unique Node List configuration, the amendments would require support from at least 28 of 35 validators.
XLS-65 would allow assets such as XRP and RLUSD to be pooled into vaults, with depositors receiving proportional claims. XLS-66 would use vault liquidity for fixed-term loans, with credit checks and underwriting handled outside the ledger.
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