Ripple Secures Major Payments Institution (MPI) License From Singapore Regulator

Core Insights - Ripple has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), enhancing its position in the Asia-Pacific region and expanding its regulated payment services [1][2] - The new MPI license allows Ripple to broaden the scope of activities for its Singapore subsidiary, Ripple Markets APAC, enabling it to provide a wider range of regulated payment services to institutional clients [3] - The Asia-Pacific region is experiencing significant growth in digital asset usage, with on-chain activity increasing approximately 70% year-over-year, positioning Singapore as a central hub for this growth [4] Group 1 - The MPI license strengthens Ripple's ability to invest in Singapore and build necessary infrastructure for financial institutions to facilitate efficient and safe money transfers [2] - Ripple has been licensed for digital payment token (DPT) services since 2023, and the new authorization expands the categories of services it can offer [3] - Ripple's President emphasized the importance of regulatory clarity in fostering innovation within the digital asset space [2] Group 2 - Ripple's Vice President highlighted the company's commitment to supporting institutions driving digital asset growth by offering a comprehensive suite of regulated payment services [4] - There are ongoing discussions between Ripple and UK officials regarding the potential for digital assets to enhance the UK's competitiveness and growth in the financial sector [5]