As reported by 36 Crypto, Ripple has received approval from the Monetary Authority of Singapore (MAS) to expand the scope of its Major Payment Institution (MPI) license. This allows Ripple Markets APAC Pte. Ltd. to offer a broader range of regulated payment services in the region, enhancing its cross-border payment capabilities using digital payment tokens like RLUSD and XRP. Ripple's President, Monica Long, highlighted the importance of Singapore's regulatory clarity and innovation-friendly environment, which aligns with the company's regulation-first strategy. The expansion is expected to strengthen Ripple's presence in the Asia-Pacific region, where on-chain activity has grown by about 70% year-over-year.
Ripple Expands Payment License in Singapore, Boosts Global Payment Services
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