Citing Criptonoticias, Ripple has received regulatory approval from the Monetary Authority of Singapore to expand its payment services across the entire payment cycle. The company, which issues XRP and the stablecoin RLUSD, can now offer a broader range of regulated payment services, including cross-border transactions using XRP and RLUSD. Ripple's subsidiary, Ripple Markets APAC, is now authorized as a Major Payment Institution, allowing it to collect funds, provide custody, facilitate token exchanges, and make disbursements. This regulatory expansion follows a 2023 license covering basic digital token services and aligns with Ripple's strategy to focus on jurisdictions with clear digital asset frameworks, such as Abu Dhabi, where it also secured a similar authorization for RLUSD.
Ripple Expands Payment Services in Singapore, Targets 6-Million-Person Market
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