In Brief
- Ripple gains expanded Major Payment Institution license approval from Singapore’s MAS.
- New license scope supports end-to-end crypto payment services using XRP and RLUSD.
- Ripple strengthens Asia-Pacific strategy as on-chain activity rises 70% year-over-year.
Ripple has received approval from the Monetary Authority of Singapore to expand the scope of its payments license. This allows the company to offer more regulated services through its subsidiary Ripple Markets APAC Pte. Ltd.
The approval upgrades Ripple’s existing Major Payment Institution license, enabling broader digital payment offerings for banks and institutions. Ripple aims to serve more clients with secure and efficient cross-border payments using digital assets like RLUSD and XRP.
Ripple said the expansion strengthens its ability to support institutional clients that require blockchain-based infrastructure for payments. It plans to manage the operational and technical elements, letting customers avoid building their own systems.
The expanded license enables Ripple to deliver an end-to-end service for digital token payments, including custody, conversion, and payouts. The company also aims to eliminate the need for clients to manage wallets or deal with multiple providers.
Singapore’s Framework Supports Ripple’s Regional Strategy
Singapore continues to attract digital asset companies due to its regulatory clarity and strong institutional environment. Ripple has operated in the country since 2017 and sees it as a strategic hub for Asia-Pacific growth.
Ripple stated that on-chain activity in the region has risen nearly 70% year-over-year, positioning Singapore at the centre of that trend. The company will use its expanded license to meet growing demand for regulated blockchain-based payment tools.
Ripple Payments integrates digital payment tokens with a global payout network to facilitate faster cross-border transfers. The platform simplifies access to digital assets and supports both on- and off-ramp services.
The company added that recent regulatory milestones in the UAE further support its international expansion. Ripple plans to integrate services like RLUSD and explore options such as XRP staking in future offerings.
Ripple emphasised its commitment to regulation and compliance as core parts of its business model. It intends to continue investing in Singapore and expanding infrastructure for institutional clients across the region.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/xrp/ripple-secures-approval-to-expand/
