Ripple President Reacts to Major License Win in Singapore

Source: CryptoNewsNet Original Title: Ripple President Reacts to Major License Win Original Link: Ripple President Monica Long has reacted to Ripple securing a major regulatory victory in Singapore, framing the license expansion as a significant win for the company’s growth and customers.

“With this expanded scope of payment activities for the MPI license, Ripple can scale our licensed payment services in Singapore for our growing customer base, including banks and fintechs. Proud to keep growing in Singapore,” she said.

The Monetary Authority of Singapore (MAS) approved an expanded scope for Ripple’s Major Payment Institution (MPI) license, which is a high-level license that only a few crypto companies globally possess.

Why it matters

MAS expanded what Ripple is allowed to do under its MPI license. This enables Ripple to offer more regulated payment services, including end-to-end cross-border payments and support for digital payment tokens like XRP and RLUSD.

The expanded license allows Ripple to scale its payment services in Singapore for banks, fintechs, and crypto companies. Singapore is one of the most advanced digital-asset regulators in the world.

With this recent license expansion, Ripple can strengthen its position in the Asia-Pacific region, which is shaping up to be the fastest-growing digital-asset market.