Regulatory Approval from MAS
Ripple Labs has obtained regulatory approval from Singapore’s central bank to expand its payments business, marking a significant step in its efforts to strengthen its presence in the Asia-Pacific region.
The Monetary Authority of Singapore (MAS) has granted Ripple’s local unit, Ripple Markets APAC, an expanded scope under its Major Payment Institution (MPI) license. This approval allows Ripple to offer a broader range of regulated payment services to banks and corporate clients in Singapore.
Strategic Importance of Singapore
Ripple President Monica Long emphasized the importance of Singapore’s regulatory environment, stating that the expanded license serves as a foundation for further investment. The approval will enable Ripple to enhance its infrastructure for faster and more secure cross‑border payments using digital payment tokens such as RLUSD and XRP.
Singapore has been a strategic hub for Ripple since 2017. The company first secured its MPI license in 2023, allowing it to provide regulated digital token services. The latest approval widens Ripple’s operating scope, positioning it to offer a broader set of institutional services.
Growth Across the Asia‑Pacific
The move comes as Ripple continues to expand its services in the Asia‑Pacific region, where on‑chain activity has increased by about 70% year‑over‑year. Ripple Asia‑Pacific head Fiona Murray noted that Singapore is at the center of this growth, and the expanded permissions will help Ripple deliver regulated services to institutions driving this trend.
Acquisitions and Stablecoin Expansion
In addition to its regulatory achievements in Singapore, Ripple recently acquired Palisade, a wallet and custodian provider, to bundle custody with payments and liquidity tools for large customers.
Furthermore, Ripple’s dollar‑backed stablecoin RLUSD was recently approved for institutional use in Abu Dhabi, further supporting its expansion in the UAE.
Looking Ahead
Ripple’s regulatory milestone in Singapore underscores its commitment to expanding its regulated payment services and strengthening its position in the Asia‑Pacific region. With the approval of RLUSD in Abu Dhabi and ongoing acquisitions, Ripple is poised to enhance its infrastructure for faster and more secure cross‑border transactions.
