Ripple Can Now Offer Wider XRP, RLUSD Services After Singapore Regulator Approval

Core Viewpoint - Ripple has received approval from the Monetary Authority of Singapore to expand its payment activities, enhancing its regulated cross-border payments business in a key global hub [1][2]. Group 1: Regulatory Approval and Expansion - The updated permissions apply to Ripple Markets APAC Pte. Ltd., allowing the company to offer token-based settlements and related payment services to banks, fintechs, and crypto firms in Singapore [2]. - Ripple is among a select group of blockchain-focused companies holding a Major Payment Institution license, indicating its regulatory compliance and operational legitimacy [2]. Group 2: Service Offerings - The expanded scope enables Ripple to provide a wider range of regulated payout, settlement, and on/off-ramp services using digital payment tokens like RLUSD and XRP, without requiring customers to build custom infrastructure [3]. - The Payments product integrates digital asset settlement with a global payout network, allowing clients to route funds, swap tokens, and settle transactions through a single integration [3]. Group 3: Market Growth and Investment - The Asia-Pacific region is Ripple's fastest-growing market, with a reported 70% increase in on-chain activity year over year [4]. - Singapore has become a central hub for Ripple's growth, supported by the Monetary Authority of Singapore's proactive regulatory framework for digital assets [4][5]. - The additional permissions are expected to facilitate further investment in Singapore and enhance Ripple's ability to serve regional financial institutions amid growing demand for regulated settlement solutions [5].