XRP News Today: MAS Broadens Ripple’s License, Strengthening Singapore’s Role as a Blockchain Payments Center

Ripple Gains Expanded Regulatory Approval in Singapore

Ripple (XRP) has achieved a significant milestone in Singapore, receiving approval from the Monetary Authority of Singapore (MAS) to broaden its Major Payment Institution (MPI) license. This advancement enables Ripple to deliver fully regulated, comprehensive payment solutions within Singapore, utilizing digital assets such as XRP and its stablecoin RLUSD to support international money transfers.

This regulatory progress further establishes Singapore as a crucial base for Ripple, which has maintained a presence in the country since 2017. The company credits Singapore’s progressive regulatory approach for fostering innovation and supporting the growth of digital finance.

With the expanded license, Ripple can now offer financial institutions, fintech companies, and crypto businesses a unified platform for collecting, holding, exchanging, and distributing funds. By managing the complexities of blockchain technology behind the scenes, Ripple allows businesses to adopt digital payments without investing in expensive infrastructure, thereby lowering entry barriers for new market participants.

Monica Long, President of Ripple, emphasized that this approval aligns with Ripple’s commitment to regulatory compliance and highlights Singapore’s leadership in establishing clear digital asset guidelines. Fiona Murray, Ripple’s Managing Director for Asia-Pacific, pointed out that on-chain activity in the region has surged by nearly 70% over the past year, with Singapore at the forefront of this expansion.

This new status makes Ripple one of the select blockchain companies worldwide to hold an MPI license, strengthening its reputation among institutional clients. The Ripple Payments platform now delivers three main benefits: rapid settlements within minutes using digital payment tokens, streamlined onboarding for operational efficiency, and easy access to digital assets without the need for direct management or banking partnerships. These advantages are designed to make cross-border payments faster and more cost-effective, setting Ripple apart in the competitive fintech industry.

Despite this regulatory achievement, XRP’s value experienced a short-term decline, dropping 7.6% within a day—outpacing losses seen in Bitcoin and Ethereum—as the broader cryptocurrency market faced technical challenges and significant derivatives sell-offs. Analysts linked the price drop to a breach of a key support level at $2.16, which triggered stop-loss orders and increased selling pressure. Nevertheless, Ripple’s long-term prospects remain strong, with its expanded presence in Singapore expected to boost adoption across Asia’s rapidly evolving digital payments landscape.

The MAS’s decision underscores Singapore’s ambition to be a global leader in financial technology. By granting Ripple greater operational freedom, the regulator demonstrates its ability to balance innovation with effective oversight, distinguishing itself from more restrictive regulatory environments. Ripple’s success in delivering regulated, token-based services in Singapore could serve as a model for other blockchain companies navigating complex global regulations.