Ripple secured expanded MPI permissions in Singapore, broadening its regulated crypto payments and support for banks, fintechs, and payment firms.
Ripple has received approval from the Monetary Authority of Singapore (MAS) to expand the scope of payment activities under the Major Payment Institution (MPI) licence held by its Singapore subsidiary, Ripple Markets APAC Pte. Ltd., allowing the company to broaden its regulated payment offerings and improve support for customers operating in and through Singapore.
“MAS has set a leading standard for regulatory clarity in digital assets, and we deeply value Singapore’s forward-thinking approach,” said Monica Long, President of Ripple. “This expanded licence strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely.”
“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 centre of that growth,” said Fiona Murray, Vice President & Managing Director, Asia Pacific at Ripple.
Singapore has hosted Ripple’s Asia Pacific headquarters since 2017 and continues to serve as a key regulatory and operational hub for the company’s digital asset payment business.
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