Ripple News: XRP, RLUSD Linked Firm Gets Key Approval For Booming Singapore Market
Ripple's Singapore entity received expanded Major Payment Institution license approval from MAS to offer broader token-based settlement services.Summary
Ripple Markets APAC Pte. Ltd., Ripple's Singapore entity, has secured expanded permissions under its Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This approval significantly broadens the scope of regulated cross-border payment services Ripple can offer in the city-state, particularly concerning token-based settlements involving digital assets like XRP and the stablecoin RLUSD. The expanded scope allows Ripple to provide a larger suite of regulated payout, settlement, and on/off-ramp services to banks, fintechs, and crypto firms without requiring them to build bespoke infrastructure. The Asia-Pacific region is Ripple's fastest-growing area, and Singapore, its APAC headquarters since 2017, is a central hub benefiting from MAS's clear regulatory framework. These additional permissions are expected to support further investment by Ripple in Singapore and enhance its ability to serve regional financial institutions.
(Source：CoinDesk)