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Ripple's Singapore subsidiary has received MAS approval to expand the scope of its payment license.
【Bitu】Ripple has achieved an important regulatory breakthrough in Singapore! Its Singapore subsidiary, Ripple Markets APAC, has just received approval from the Monetary Authority of Singapore (MAS), expanding the scope of its major payment institution license.
The company established itself in Lion City in 2017, and Singapore has now become a strategic hub for their global layout. The company's president, Monica Long, revealed that this license upgrade means Ripple can invest more resources locally, focusing on building a smoother cross-border transfer channel for financial institutions—fast, stable, and secure.
For projects looking to operate payment businesses within a compliant framework, securing the MAS endorsement is no small feat. Ripple's recent move can be seen as a significant step forward in the Asia-Pacific market.