Ripple has received approval from Singapore's Monetary Authority (MAS) to expand the scope of its Major Payment Institution (MPI) license, held by its local subsidiary Ripple Markets APAC. This regulatory green light allows Ripple to offer fully licensed, end-to-end payment services in the country, including cross-border transfers using its digital tokens XRP and the newly launched RLUSD stablecoin.
The expanded license enables Ripple to broaden regulated payment activities such as collection, holding, token swapping, and payout services through a single integration point. This simplifies access to digital payment tokens for financial institutions, crypto companies, and fintechs without requiring them to maintain specialized infrastructure.
"MAS has set a leading standard for regulatory clarity in digital assets, and we deeply value Singapore's forward-thinking approach," said Monica Long, Ripple's president. "This expanded license strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely."
Fiona Murray, Ripple's vice president and managing director for Asia Pacific, highlighted that the Asia Pacific region leads in real digital asset usage, with on-chain activity up roughly 70% year-over-year, and "Singapore sits at the center of that growth." Ripple established its Asia Pacific headquarters in Singapore in 2017, and MAS has implemented frameworks like the Payment Services Act to govern stablecoin issuance and crypto service providers.
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