Ripple obtains MPI license in Singapore

Singapore is one of Ripple’s fastest growing markets, it said.

Blockchain and crypto solutions provider Ripple has clinched a major payments institution (MPI) license from the Monetary Authority of Singapore (MAS).

With this, Ripple will be able to offer regulated digital payment tokens (DPTs) services in the Lion City.

Today, over 90% of Ripple’s business is outside of the US, and Singapore – and to a larger degree Asia Pacific – is one of its fastest growing regions. 

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Ripple said that it will continue to prioritise the Asia Pacific region for adoption of its crypto-enabled payments solutions.  

Ripple said that it will continue its engagement with the MAS with key executives speaking at the Elevandi Insights Forum and the Singapore Fintech Festival from 14 to 17 November 2023.