“When clarity leads the way, innovation starts to play — Ripple rises higher every single day.”
The Monetary Authority of Singapore (MAS) has formally approved an extended scope of payment activities for Ripple Markets APAC, the company’s Singapore unit, giving Ripple a significant regulatory victory in Asia.
This update reinforces Ripple’s position as one of the few blockchain businesses worldwide holding a Major Payment Institution (MPI) license with widened capabilities.
Ripple may now provide additional regulated payment services in Singapore thanks to this expansion, helping companies that depend on quick, safe, and effective crypto-enabled solutions.
The license also demonstrates Singapore’s dedication to creating a robust and transparent regulatory framework for digital assets, a strategy that Ripple has long commended.
The MAS has set a global standard for transparency in digital asset regulations, according to Monica Long, President of Ripple. Ripple’s extended licence, she continued, demonstrates that when laws are clear and encouraging, innovation develops more quickly.
Long also emphasised that this milestone will enable Ripple continue investing in Singapore and establish better infrastructure for financial institutions that depend on fast cross-border payments.
As it expands its footprint throughout the Asia-Pacific area, this action represents yet another significant milestone for Ripple.
With better regulatory support and a broader payment scope, Ripple is positioned to accelerate its aim of establishing smarter, faster, and safer global payment networks.
You need to login in order to Like
Leave a comment