Ripple Expands Licensing Scope in Singapore, Enhancing Payment Operations with XRP and RLUSD

Blockchain payment company Ripple announced on the 1st that it has obtained approval from the Monetary Authority of Singapore (MAS) to expand the scope of its Major Payment Institution (MPI) license. The license was acquired by Ripple's Singapore subsidiary, Ripple Markets APAC Pte. Ltd., allowing Ripple to expand its regulated payment services and deliver greater value to its customers in Singapore. Globally, there are few blockchain-related companies that hold an MPI license, and this approval further strengthens the company's compliance and cooperative relationships with regulatory authorities.