Ripple has received approval from the Monetary Authority of Singapore (MAS) to expand its payment operations under the Major Payment Institution (MPI) license held by its subsidiary, Ripple Markets APAC. $XRP
The extended license allows Ripple to provide additional regulated payment services in Singapore, including products related to digital payment tokens such as the newly launched stablecoin RLUSD and XRP. Ripple remains one of the few global blockchain companies with a full MPI license in this country.
Ripple's President Monica Long emphasized Singapore's leadership role in digital asset regulation, stating that MAS continues to set global standards for clarity and transparency. She noted that the expanded license allows Ripple to increase its investment in Singapore and strengthen the infrastructure that financial institutions use to transfer money quickly, safely, and efficiently.
Ripple's payment platform integrates digital tokens with a global payment network, enabling banks, fintech companies, and cryptocurrency firms to conduct cross-border payments without the need to build proprietary rails. The new license supports a complete payment stack that includes receiving, holding, exchanging, and making digital token payments through a single unified integration.
Fiona Murray, Vice President of Ripple for the Asia Pacific region, highlighted the strategic importance of APAC. This region leads the world in the use of digital assets in the real world, with on-chain activity growing nearly 70 percent year-over-year. Singapore is at the center of this momentum and continues to attract global fintech and cryptocurrency infrastructure builders.
Ripple established its APAC regional headquarters in Singapore in 2017. MAS remains one of the most advanced regulators in the digital asset space, supported by frameworks such as the Payment Services Act regulating the issuance of stablecoins and cryptocurrency services.
