Important points:
- Ripple has received approval from Singapore’s MAS to expand the scope of its Major Payment Institution (MPI) license.
- This move will enable broader regulated cryptocurrency payment services using XRP and RLUSD across Singapore.
- On-chain activity in the Asia-Pacific region has increased by about 70% year-on-year, with Singapore becoming a core hub for Ripple’s expansion.
Ripple has achieved a new regulatory milestone in Singapore. get approved We have received approval from the Monetary Authority of Singapore (MAS) to expand payment activities permitted under our existing Major Payment Institution license. This expansion strengthens Ripple’s position as one of the few blockchain-powered companies operating globally under a fully regulated framework for digital payment tokens.
Below is a detailed breakdown of the announcement, its impact on the use of XRP and RLUSD, and how Singapore’s regulatory landscape continues to shape the crypto payments sector.
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Ripple receives broader regulatory clearance in Singapore
Singapore’s MAS has approved the scope expansion of Ripple Markets APAC Pte. Ltd. Ltd. (RMA), allowing the company to offer more regulated crypto-related payment services in the country. Ripple has operated its Asia-Pacific headquarters in Singapore since 2017, and this approval deepens its long-standing relationship with regulators.
According to Ripple executives, this growth demonstrates Singapore’s leadership in developing enforceable and transparent digital asset regulations. President Monica Long said innovation always thrives in a clear regulatory environment, and the expanded license gives Ripple additional scope to support banks, fintechs, and crypto companies that need effective payments infrastructure.
This decision also empowers Ripple’s compliance culture. One of the most comprehensive licenses in one of the largest financial centers will significantly boost Ripple’s credibility as global regulators tighten regulations on the cryptocurrency market.
How license expansion will strengthen Ripple payments
Ripple Payments, the company’s most dominant international payment system, will benefit from Singapore’s approval. The system integrates digital payment tokens (DPT), centered around the Ripple-regulated stablecoin RLUSD, and XRP with global payment networks to provide fast, low-cost, transparent cross-border payments.
Under the expanded license, Ripple will be able to expand many of its in-demand services.
End-to-end digital payments
Ripple Payments brings together FX collections, holdings, swaps, and payments in one workflow. This replaces disparate partnerships and reduces onboarding complexity. Customers do not need to enter into many banking relationships or invest in new infrastructure to process DPT.
Ripple also handles all blockchain transactions under the carpet, allowing clients to deploy digital payment products without developing internal crypto infrastructure. This end-to-end structure is a huge advantage for banks and fintechs that are not yet equipped with the technical and operational layers of blockchain payments.
Faster payments using RLUSD and XRP
The two tokens have the ability to settle cross-border payments within minutes, making them a solid alternative to older systems that relied on intermediaries. XRP is one of a limited number of digital assets that continues to be utilized to provide liquidity in the real world, and RLUSD provides a stablecoin with institutional protection.
Read more: Ripple announces $1 billion digital asset treasury to fuel global expansion of XRP
