‍Ripple Labs Expands Payment Services in Singapore with New MAS Approval Ripple Markets APAC has received an expansion of its Major Payment Institution (MPI) license from Singapore’s central bank, the Monetary Authority of Singapore (MAS). This allows the company to offer a wider range of regulated payment services, strengthening its presence in the Asian financial hub. Monica Long, Ripple’s President, stated the approval "strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely." The Ripple Payments system uses digital payment tokens like RLUSD and XRP to facilitate cross-border transactions. Singapore is a pivotal hub for Ripple, with operations there since 2017. The Asia-Pacific region is seeing a surge in crypto adoption, with onchain activity increasing by approximately 70% year-over-year.

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Ripple Labs Expands Payment Services in Singapore with New MAS Approval

Ripple Labs has received significant regulatory approval from Singapore’s central bank, the Monetary Authority of Singapore (MAS), to broaden its...