Singapore grants Ripple broader payment authorization as firm scales institutional offerings
Ripple Labs has received approval from the Monetary Authority of Singapore to broaden its regulated payment activities under its Major Payment Institution license.
The authorization allows the company to deliver fully licensed digital payment services across Singapore, strengthening its infrastructure for institutional clients, reports Cryptopolitan.
Ripple Markets APAC, the firm’s local entity, secured the green light after meeting MAS requirements to enhance its regulated operations. The approval significantly expands Ripple’s ability to offer end-to-end crypto-enabled payments using assets such as RLUSD and XRP. These tokens help facilitate cross-border transactions by acting as on-ramps and off-ramps for banks and enterprises. Ripple views the decision as a major step toward scaling its institutional services in the region.
Acquisitions strengthen Ripple’s institutional strategy
As part of its broader expansion plan, Ripple has been actively acquiring companies to bolster its payment and custody capabilities. The firm recently purchased Palisade, a wallet-as-a-service provider and licensed digital asset custodian based in France, signaling its intent to serve more enterprise clients. Ripple said that these acquisitions help build the infrastructure required to support fast and secure global value transfer.
Company executives emphasized that Singapore’s regulatory clarity makes it an ideal base for institutional growth. The MPI license, first obtained in 2023, enables Ripple to offer digital payment token services to local customers. MAS records show Ripple is licensed specifically for digital token transactions such as buying, selling, and providing trading platforms.
Singapore emerges as a leading onchain hub in Asia Pacific
Ripple executives highlighted Singapore’s rapid rise as a global crypto and fintech hub, citing strong onchain activity and regulatory openness. Fiona Murray, Ripple’s vice president for Asia Pacific, said the country’s onchain transaction volume grew roughly 70% over the past year. This surge aligns with broader regional trends identified by Chainalysis, which reported that the Asia-Pacific region recorded $2.36 trillion in crypto value received, up 69% year-over-year.
Countries such as India, Pakistan, Vietnam, South Korea and Pakistan ranked among the top adopters worldwide. Ripple believes its expanded license will allow it to support the institutions driving this growth with faster and more efficient payment solutions. With Singapore anchoring its regional operations, the company expects continued momentum in Asia’s digital finance ecosystem.
Recently we wrote that XRP fell to $2.04, down 6.98%, as a steep decline in Bitcoin triggered a broad market-wide sell-off.
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