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Singapore’s Monetary Authority granted Ripple an expanded Major Payment Institution license Monday, allowing the blockchain payments firm to offer broader institutional cross-border payment services across the Asia-Pacific region.
The approval, announced Monday by the Monetary Authority of Singapore (MAS), grants Ripple Markets APAC an extended Major Payment Institution (MPI) license that allows the firm to expand its regulated payment offerings.
The decision comes as Ripple accelerates its global growth strategy through acquisitions, institutional partnerships and enhancements to its blockchain-based payment infrastructure.
Ripple’s updated licensing conditions fall under Singapore’s regulatory framework outlined in the MAS Payment Services Act Explainer, which governs the licensing and conduct requirements for payment service providers.
Additional compliance expectations relevant to Ripple’s digital asset operations are detailed in the MAS Digital Payment Token Services Guidelines. Together, these documents form the regulatory foundation under which the Ripple payment system operates within Singapore’s financial system.
Ripple first secured its MPI license in 2023, enabling the Ripple payment system to provide regulated digital payment token services in Singapore. MAS licensing categories typically include activities such as enabling the buying or selling of digital payment tokens and operating exchange platforms.
With the newly expanded scope, Ripple is now authorized to support a broader range of institutional cross-border payment functions, making Singapore an even more central hub for its Asia-Pacific operations.
Monica Long, President of Ripple Labs, emphasized the significance of Singapore’s policy environment.
“We appreciate Singapore’s forward-thinking approach to digital asset innovation,” — Monica Long, President, Ripple Labs, in an official statement. She added that the extended approval “strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely.”
The Ripple payment system relies on digital assets such as Ripple’s RLUSD stablecoin and XRP to facilitate real-time international settlements.
Ripple describes the system as a fully managed institutional payment stack offering on-ramp and off-ramp services, including holding, swapping, collection and payout capabilities. According to the company, the expanded license allows it to scale these services in a regulated environment aligned with global compliance standards.
The latest approval also follows Ripple’s acquisition on November 4 of Palisade, a crypto custody and wallet technology firm. Ripple said the acquisition strengthens the institutional infrastructure of the Ripple payment system, particularly in areas requiring secure digital asset storage and enterprise-grade wallet tools.
Ripple has operated in Singapore since 2017, and the company consistently refers to the city-state as “pivotal” to its global business strategy.
Analysts note that Singapore’s regulatory clarity as outlined in the MAS Digital Assets Regulatory Approach has positioned the country as a preferred base for blockchain-powered payment networks such as the Ripple payment system, which require predictable and transparent oversight.
Fiona Murray, Ripple’s Vice President and Managing Director for APAC, pointed to strong digital asset usage across the region.
“Onchain activity is up roughly 70% year-over-year, and Singapore sits at the center of that growth,” — Fiona Murray, VP & Managing Director, Ripple APAC, said in a statement. She added that Ripple’s expanded approval “allows us to better support the institutions driving that growth by offering a broad suite of regulated payment services, bringing faster, more efficient payments to our customers.”
Asia-Pacific recorded the world’s highest year-over-year crypto growth according to the Chainalysis 2025 Global Adoption Index. The region saw total value received rise 69% to $2.36 trillion, with India, Pakistan and Vietnam ranking as leading markets.
Other fast-growing hubs included the Philippines, South Korea and Thailand. Analysts say the scale of this activity underscores increasing demand for institutional-grade settlement tools such as the Ripple payment system.
With MAS granting an expanded mandate, Ripple signals its long-term commitment to building regulated cross-border payment corridors across the Asia-Pacific region.
The company said the updated MPI approval aligns with rising institutional demand and reinforces its global expansion strategy centered around the Ripple payment system. The strengthened regulatory footing also positions Ripple competitively in the evolving global payments landscape.
While Ripple continues to navigate regulatory uncertainty in some jurisdictions, Singapore’s structured oversight provides a stable foundation for scaling the Ripple payment system. Analysts believe that financial institutions seeking compliant blockchain settlement technologies may be more inclined to adopt Ripple’s infrastructure due to its enhanced regulatory status.
Ripple executives say Singapore will remain a critical operational base supporting institutional growth across emerging APAC markets. For crypto investors, the regulatory momentum surrounding the Ripple payment system indicates rising institutional confidence in token-based payment infrastructure and its long-term commercial potential.
