- MAS expands Ripple’s payment permissions to include services for XRP and RLUSD.
- The approval enhances Ripple’s role in regulated, fast cross-border payments across APAC.
- Regional digital asset activity is rising alongside Ripple’s deepening investment in Singapore.
The Monetary Authority of Singapore (MAS) has approved an expanded scope of payment activities for Ripple Markets APAC, the company’s local subsidiary.
This approval allows Ripple to scale regulated payment services for banks, fintechs, and corporates within one of the world’s most closely supervised financial jurisdictions.
Ripple can now offer a broader set of digital payment token services related to XRP and RLUSD.
The approval also gives the company greater flexibility to deliver cross-border payment solutions that leverage digital assets to settle transactions faster and at lower cost.
Ripple executives said the development reflects the value of Singapore’s clear regulatory approach.
President Monica Long described MAS as a global benchmark for transparency and steady rules.
She said the decision reinforces Ripple’s plans to deepen its investment in the market and to build infrastructure that supports faster global money movement.
MAS’s framework under the Payment Services Act provides defined rules for digital asset firms covering token issuance, custody, and payment activities.
Expansion aligns with rising APAC demand
The approval marks a surge in regional digital asset activity, which has risen by roughly 70% year-over-year.
Ripple said Singapore is at the center of this growth thanks to its advanced policy framework and early embrace of regulated digital token services.
Fiona Murray, Ripple’s Vice President and Managing Director for the region, said the expanded license equips the company to serve the institutions driving that growth.
She noted that regulated payment rails remain critical as cross-border activity accelerates across markets in the region.
Ripple first established its Asia-Pacific headquarters in Singapore in 2017.
The firm subsequently obtained a full Major Payment Institution (MPI) license, placing it among a select group of blockchain-focused companies authorized to provide regulated digital token services in the country.
Broader capabilities for institutional clients
With the updated permission set, Ripple can now support end-to-end payment flows through a single integration.
This includes collection, custody, token exchange, and payment execution.
The approach enables clients to avoid multiple infrastructure partners and reduce reliance on additional correspondent banking relationships.
Ripple Payments, the company’s global solution, combines digital tokens with a payments network that handles conversion, compliance, and settlement operations.
By absorbing technical and blockchain complexity, Ripple enables institutions to offer digital payment services more efficiently.
The company’s stablecoin, RLUSD, sits at the core of several of these offerings.
RLUSD recently received recognition in Abu Dhabi as an Accepted Fiat-Referenced Token, allowing licensed firms in the Abu Dhabi Global Market to use it for regulated financial activity.
That acknowledgment adds momentum to Ripple’s broader expansion across the UAE and Asia.