Ripple Expands Regulated Payment Operations in Singapore
Ripple Labs has secured approval from Singapore’s central bank to broaden its payment activities in the region, reinforcing its strategic push to enhance institutional offerings. Ripple Markets APAC, the company’s Singapore subsidiary, received authorization under its Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to expand regulated digital payment services. This development strengthens Ripple’s ability to invest in local infrastructure, enabling financial institutions to conduct faster, secure, and efficient cross-border transfers using XRP and its stablecoin RLUSD.
Ripple’s expansion complements a series of strategic acquisitions this year, including crypto custody and wallet provider Palisade, aimed at bolstering its business and institutional solutions. Operating in Singapore since 2017, Ripple views the region as a critical hub, with on-chain activity growing nearly 70% year-over-year. The company’s expanded license positions it to deliver a comprehensive suite of regulated payment services to support growing institutional adoption across Asia-Pacific, a region witnessing surging digital asset flows.
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