Ripple Labs has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license, a significant regulatory milestone that will allow the firm to expand its digital payment token services in the strategically important Asia-Pacific market. This approval enables Ripple to offer regulated digital payment token services and enhance its cross-border payment solutions for enterprise clients throughout Singapore.
The development underscores Singapore’s role as a progressive hub for digital asset innovation and regulatory clarity. For Ripple, it represents a crucial expansion of its operational footprint, providing a stable and regulated base to serve institutional clients across the region. This move aligns with the company’s broader strategy of strengthening its institutional offerings and compliance framework globally.
In parallel with this regulatory advancement, Ripple has been actively broadening its service portfolio through strategic acquisitions this year. Notably, the firm recently completed the acquisition of Palisade, a specialized digital asset custody and wallet provider. This acquisition is designed to bolster Ripple’s infrastructure for securely managing digital assets, further enhancing its suite of services for financial institutions and reinforcing its position in the enterprise blockchain sector.
