Ripple Obtains Full License to Offer Crypto Payment Services in Singaporeby Fintech News Singapore October 9, 2023
Ripple, a provider of enterprise blockchain and crypto solutions, has obtained a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS) to offer Digital Payment Token services.
Following the in-principle approval of its license application in June 2023, Ripple can now continue to provide regulated digital payment token services in Singapore.
The firm added that it will continue to prioritise the Asia Pacific region for adoption of its crypto-enabled payments solutions.
“Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business. We have hired exceptional talent and local leadership, doubling headcount over the past year and plan to continue growing our presence in a progressive jurisdiction like Singapore.
Under MAS’ leadership, Singapore has developed into one of the leading fintech and digital asset hubs striking the balance between innovation, consumer protection and responsible growth.”
said Brad Garlinghouse, Chief Executive Officer of Ripple.