Ripple Expands Payment Services Under MAS Approval
- Ripple’s MAS approval expands its regulated payment services across Singapore markets.
- The expanded MPI license helps token payments, easing operations for banks and fintechs.
- Singapore’s regulatory clarity boosts Ripple’s role in supporting APAC crypto adoption.
Ripple has received approval from Singapore’s Monetary Authority to expand payment activities under its Major Payment Institution (MPI) license. The approval covers Ripple Markets APAC and follows its earlier license grant in 2023. The expanded scope enables Ripple to offer end-to-end regulated digital payment services across Singapore and support growing institutional demand in the Asia Pacific.
MAS Approval Broadens Ripple’s Regulated Activities
The approval adds new regulated capabilities to Ripple’s existing license and allows the company to expand its payment offerings. According to Ripple, the new approval will help it engage more financial institutions seeking compliant digital asset services. Monica Long, Ripple President, said the MAS provides clear rules for digital assets.
She emphasized that Ripple uses a regulation-first approach, which aligns with Singapore’s framework. Her comments emphasize the collaboration between Ripple and Singapore’s regulators as digital payments gain strength.
The broader scope also shows Singapore’s efforts to maintain strong oversight while supporting financial technology growth. The city-state is one of the earliest regulators to establish clear standards for digital payment token activities.
Digital Token Services Support the Expanded Scope
Ripple Payments now plays a larger role in supporting institutions that rely on digital payment tokens, including RLUSD and XRP. The platform processes fast cross-border payments and manages the blockchain and operational layers for businesses. This structure reduces the need for firms to build infrastructure or engage multiple partners.
The expanded MPI license enables Ripple to streamline collection, holding, swapping, and payout flows under one integration. This simplification helps banks, fintech firms, and crypto companies handle payments without complex operational requirements. It also gives institutions the option to hold digital assets or convert them instantly, offering flexibility during high transaction volumes.
Fiona Murray, Ripple Vice President and Managing Director for Asia Pacific, said the region leads global digital asset usage. She noted that on-chain activity in the Asia Pacific grew nearly 70% year-over-year and noted Singapore’s central position in that growth. Her remarks show the increasing institutional reliance on regulated digital payment systems.
Singapore’s Position as a Digital Asset Hub
Singapore continues to attract major financial institutions that seek stable rules for emerging technologies. The MAS framework is a reference point for regulators in other regions that are assessing digital payment rules. This environment has supported Ripple’s regional expansion since it opened its headquarters in 2017.
The expanded license also allows Ripple to work closely with banks and fintechs that require compliant access to digital payment tokens. Institutions can use Ripple’s payment modes for large volume cross-border transfers without adding new bank relationships. This approach reduces friction and helps institutions handle settlement flows more efficiently.
The MAS has not publicly disclosed which specific payment categories were added under the expanded scope. However, the digital payment token authorization remains confirmed, indicating continued oversight of token-linked services.
Related: Ripple President Confirms No IPO Plans, Focuses on Growth
Regional Adoption and Ripple’s Growth Strategy
The Asia Pacific region continues to drive global demand for digital asset services. Ripple recently teamed up with companies like Mastercard and Gemini to test using RLUSD to settle regular card payments. It’s basically a way to test how safe, regulated digital tokens can work inside the banking systems people already use.
Singapore’s approval also gives Ripple more room to work with financial institutions across Southeast Asia, making it easier for them to roll out these services. It also supports broader adoption of digital payment tokens during a period of fast industry change. With clear rules in Singapore, institutions can use payment tools that fully meet compliance standards.
Ripple’s upgraded MPI license strengthens its regulated services in the country. The wider approval lets Ripple offer more digital token payment options and support institutions that need compliant cross-border solutions. This boosts Ripple’s presence in the Asia-Pacific region and matches the growing demand for safe, regulated digital asset systems.
