Ripple’s Singapore branch, Ripple Markets APAC, has received approval from the Monetary Authority of Singapore (MAS) to extend the activities covered by its Major Payment Institution (MPI) license.
This allows the company to offer more regulated payment services in the region.
Monica Long, Ripple’s President, said the company appreciates “Singapore’s forward-thinking approach”. She added that the broader license helps Ripple continue investing in the country and build a better financial infrastructure for faster, safer money transfers.
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Ripple’s payment network relies on digital tokens such as RLUSD and XRP
Ripple was first granted an MPI license in 2023, which permitted it to operate regulated digital token services in Singapore. According to the MAS website, the license still lists Ripple under digital payment token activities, covering the buying, selling, or exchange of such tokens through a platform.
The company has been active in Singapore since 2017 and considers the country an important part of its global business strategy. Ripple views Singapore as a key location for building partnerships and driving growth in digital finance.
Fiona Murray, Ripple’s Vice President and Managing Director for the Asia-Pacific region, noted that activity on blockchain networks has risen around 70% in the past year. She said Singapore plays “a central role in that growth”.
Ripple’s RLUSD was recently approved for use by licensed firms in Abu Dhabi’s Global Market free zone. What did Jack McDonald, Ripple’s senior vice president of stablecoins, say? Read the full story.
