Ripple Secures Major MAS License, Unleashes Full Payment Services Across Singapore

Ripple just flipped the switch in one of Asia's premier financial hubs.

The blockchain payments giant secured a full license from Singapore's Monetary Authority (MAS), clearing the way to roll out its full suite of digital payment services across the city-state. This isn't a pilot or a sandbox experiment—it's operational green light.

From Sandbox to Main Street

Forget tentative trials. The MAS Major Payment Institution license grants Ripple the authority to offer regulated digital payment token services directly to businesses and institutions. It transforms Singapore from a testing ground into a fully-fledged operational corridor.

The move directly challenges the legacy correspondent banking model Ripple loves to disrupt. By leveraging its On-Demand Liquidity solution—which uses XRP as a bridge currency—the company aims to slash the cost and time of cross-border transfers. Think seconds, not days. A fraction of the cost, not a percentage gouge.

Why Singapore Matters

Singapore isn't just another market. It's a globally respected regulatory beacon. An MAS stamp of approval carries weight far beyond its borders, signaling rigorous compliance and operational resilience. For Ripple, it's a strategic beachhead in Asia-Pacific, a region drowning in cross-border payment volume.

This expansion fuels the utility engine for XRP, directly linking token use to real-world, high-volume payment flows. More corridors, more transactions, more demand—it's the core bullish thesis for the asset, playing out in real-time.

The license also arrives as Ripple continues its legal marathon with the U.S. SEC, highlighting a stark contrast: regulatory clarity in one major jurisdiction versus protracted uncertainty back home. The company isn't waiting around.

The Bottom Line

Ripple's Singapore play is a masterclass in regulatory chess. It secures a pivotal hub, validates its enterprise model, and pours gasoline on XRP's utility fire. While traditional finance still debates blockchain over expensive lunches, Ripple is busy eating their lunch—one licensed corridor at a time.

Singapore extends ripple’s MPI permissions

Ripple Markets APAC Pte. Ltd., the company’s Singapore arm, can now operate with a broader set of payment capabilities after MAS approved the expanded license terms. The MOVE comes as Singapore continues to position itself as a leading jurisdiction for clearly defined digital asset rules.

Huge news from Singapore: https://t.co/KVxTs7IEKc

The @MAS_sg has approved an expanded scope of payment activities for our Major Payment Institution license – enabling us to deliver end-to-end, fully licensed payment services to our customers in the region. 🇸🇬

“MAS has set a leading standard for regulatory clarity in digital assets, and we deeply value Singapore’s forward-thinking approach,” said Monica Long, Ripple President.

“Ripple has always taken a regulation-first approach and Singapore is proof that innovation thrives when rules are clear. This expanded license strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely.”

Ripple established its Asia Pacific headquarters in Singapore in 2017, and the city-state has remained a focal point for its regulatory and operational strategy.

What the expanded approval allows

With the updated license, Ripple can expand what it offers through Ripple Payments, the company’s cross-border payments system that relies on digital payment tokens (DPTs) like RLUSD and XRP.

The company described several ways the expanded approval will enhance its service:

Ripple Payments can now move funds in just a few minutes by settling transactions with DPTs, which means financial institutions don’t have to build or maintain their own blockchain setups.

The platform lets businesses handle collection, holding, swapping, and payout through one system, so they don’t need to depend on several different service providers.

Institutions can use DPTs without having to manage their own custody setups or build extra banking connections.

Fiona Murray, Vice President & Managing Director for Asia Pacific, said the region remains a leader in genuine digital asset activity.

“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 center of that growth,” she said. 

“With this expanded scope of payment activities, we can better support the institutions driving that growth by offering a broad suite of regulated payment services, bringing faster, more efficient payments to our customers.”

Singapore’s ongoing role in Ripple strategy

The newly expanded approval reinforces Singapore’s importance to Ripple, both as a regulatory base and as a launchpad for regional payments activity. The country’s structured licensing framework has been cited by multiple firms as an example of how clear rules can support responsible digital asset innovation.

Ripple’s decision to anchor its APAC headquarters in Singapore has allowed it to operate in a jurisdiction that emphasizes compliance, customer safeguards, and transparent oversight—factors that remain central to regulators worldwide.

A separate development in the Middle East: Abu Dhabi approves RLUSD

While the Singapore approval is the latest development, Ripple also gained regulatory ground last week in the Middle East. Abu Dhabi’s Financial Services Regulatory Authority (FSRA) has recognized Ripple’s U.S. dollar-backed stablecoin, Ripple USD (RLUSD), as an Accepted Fiat-Referenced Token for use within the Abu Dhabi Global Market (ADGM).

The approval means that RLUSD can now be used by licensed firms in ADGM under the region’s rules for fiat-pegged tokens. Jack McDonald, Senior Vice President of Stablecoins at Ripple, said the recognition reflects the company’s focus on compliance. 

“The FSRA’s recognition of RLUSD as a Fiat-Referenced Token reinforces our commitment to regulatory compliance and trust – two non-negotiables when it comes to institutional finance,” he said.

RLUSD, issued under a New York Department of Financial Services Limited Purpose Trust Company Charter, has surpassed $1.2 billion in market capitalization since its late-2024 launch.

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