Key Highlights
- MAS expands Ripple’s Major Payment Institution (MPI) license in Singapore.
- Ripple can now offer broader payment services through Ripple Payments.
- Expansion enables faster settlement, full payment flow, and easier DPT access.
Ripple has been given expanded approval in Singapore after the Monetary Authority of Singapore (MAS) agreed to widen the payment activities allowed under the company’s Major Payment Institution (MPI) license.
The decision strengthens Ripple’s ability to offer a wider range of regulated services in one of its most important global markets.
Singapore extends ripple’s MPI permissions
Ripple Markets APAC Pte. Ltd., the company’s Singapore arm, can now operate with a broader set of payment capabilities after MAS approved the expanded license terms. The move comes as Singapore continues to position itself as a leading jurisdiction for clearly defined digital asset rules.
“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 President.
“Ripple has always taken a regulation-first approach and Singapore is proof that innovation thrives when rules are clear. 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.”
Ripple established its Asia Pacific headquarters in Singapore in 2017, and the city-state has remained a focal point for its regulatory and operational strategy.
What the expanded approval allows
With the updated license, Ripple can expand what it offers through Ripple Payments, the company’s cross-border payments system that relies on digital payment tokens (DPTs) like RLUSD and XRP.
The company described several ways the expanded approval will enhance its service:
Faster settlement using digital tokens
Ripple Payments can now move funds in just a few minutes by settling transactions with DPTs, which means financial institutions don’t have to build or maintain their own blockchain setups.
One provider for the full payment flow
The platform lets businesses handle collection, holding, swapping, and payout through one system, so they don’t need to depend on several different service providers.
Easier access to digital assets
Institutions can use DPTs without having to manage their own custody setups or build extra banking connections.
Fiona Murray, Vice President & Managing Director for Asia Pacific, said the region remains a leader in genuine digital asset activity.
“The Asia Pacific region leads the world in real digital asset usage, with on-chain activity up roughly 70% year-over-year. Singapore sits at the center of that growth,” she said.
“With this expanded scope of payment activities, we can better support the institutions driving that growth by offering a broad suite of regulated payment services, bringing faster, more efficient payments to our customers.”
Singapore’s ongoing role in Ripple strategy
The newly expanded approval reinforces Singapore’s importance to Ripple, both as a regulatory base and as a launchpad for regional payments activity. The country’s structured licensing framework has been cited by multiple firms as an example of how clear rules can support responsible digital asset innovation.
Ripple’s decision to anchor its APAC headquarters in Singapore has allowed it to operate in a jurisdiction that emphasizes compliance, customer safeguards, and transparent oversight—factors that remain central to regulators worldwide.
A separate development in the Middle East
While the Singapore approval is the latest development, Ripple also gained regulatory ground last week in the Middle East. Abu Dhabi’s Financial Services Regulatory Authority (FSRA) has recognized Ripple’s U.S. dollar-backed stablecoin, Ripple USD (RLUSD), as an Accepted Fiat-Referenced Token for use within the Abu Dhabi Global Market (ADGM).
The approval means that RLUSD can now be used by licensed firms in ADGM under the region’s rules for fiat-pegged tokens. Jack McDonald, Senior Vice President of Stablecoins at Ripple, said the recognition reflects the company’s focus on compliance.
“The FSRA’s recognition of RLUSD as a Fiat-Referenced Token reinforces our commitment to regulatory compliance and trust – two non-negotiables when it comes to institutional finance,” he said.
RLUSD, issued under a New York Department of Financial Services Limited Purpose Trust Company Charter, has surpassed $1.2 billion in market capitalization since its late-2024 launch.
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