Ripple Wins Singapore Approval as XRP Whales Drive Market Shift

Core Insights - Ripple has received expanded regulatory approval from the Monetary Authority of Singapore (MAS), enhancing its payment services in Asia and indicating strong institutional activity in XRP despite recent price challenges [1][2]. Regulatory Approval - The MAS has approved an expanded scope of payment activities under Ripple's Major Payment Institution (MPI) license for its subsidiary, Ripple Markets APAC Pte. Ltd, allowing Ripple to enhance its regulated payment offerings in Singapore [2]. - Monica Long, President of Ripple, commended MAS for its regulatory clarity, stating that it sets a leading standard in the digital asset sector [3]. Strategic Importance - The expanded license supports Ripple's ongoing investment in Singapore and strengthens its infrastructure for efficient, quick, and safe money transfers for financial institutions [3][4]. - Ripple has maintained a significant presence in Singapore since establishing its Asia-Pacific headquarters in 2017, with MAS being a global reference for digital asset regulation [4]. Payment Solutions - Ripple's payment suite utilizes digital payment tokens (DPTs) like RLUSD and XRP, providing fast and compliant cross-border settlement [5]. - The company emphasizes three core benefits of its services, highlighting the Asia Pacific region's leadership in digital asset usage and the ability to support institutions driving growth [5][6].