Ripple, the US technology company known for its XRP cryptocurrency platform, has announced that it has received approval from the Monetary Authority of Singapore (MAS) to expand its payment services. This new license will enable Ripple to offer enhanced regulatory-based payment solutions to local financial institutions. Fiona Murray, Ripple’s Head of Asia-Pacific, highlights this significant development stating, “On-chain activity in the region has increased by approximately 70% year-over-year. Singapore is at the heart of this growth, and expanding our services will allow us to strengthen regulated options for institutional clients.” Ripple has established a strong presence in Singapore since 2017, positioning it as a key strategic base. In 2023, Ripple secured an MPI license to offer digital token services within Singapore’s regulatory framework. This development marks another important step for Ripple’s expansion and growth strategy in the region.