Ripple Secures License to Expand Payment Services in Singapore

Ripple Labs has been granted approval by Singapore’s central bank (MAS) to expand its payment activities within the region. This move comes as Ripple seeks to bolster its business and institutional-focused offerings through acquisitions. The company’s Singapore subsidiary, Ripple Markets APAC, has received a Major Payment Institution (MPI) license allowing it to further regulate its digital payment token services in line with existing regulations.