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MainNewsRipple attai...

Ripple attains Singapore license to offer digital payment token services

Ripple attains Singapore license to offer digital payment token services

Ripple Markets APAC Pte Ltd., the Singapore subsidiary of San Francisco-based technology firm Ripple Labs, announced Wednesday that it has received a Major Payments Institution license from the Monetary Authority of Singapore (MAS). 

See related article: Ripple executive spells out Asia future after license success in Singapore

  • The issuance of a Major Payments Institution (MPI) license under Singapore’s Payment Services Act allows Ripple to legally provide digital payment token services in the city-state. The company was granted an in-principle approval for the license in June. 
  • There are 14 firms with MPI licenses from the MAS, including Circle, Paxos and Blockchain.com. Ripple is the second U.S.-based firm to receive the nod from Singapore’s central bank this week, as Coinbase, the largest U.S. exchange announced its license approval on Monday. 
  • “Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business,” Brad Garlinghouse, chief executive officer of Ripple, said in a statement.
  • Ripple said over 90% of its business is outside of the U.S. and the Asia Pacific is one of its fastest-growing regions.

See related article: U.S. SEC moves to appeal Ripple court decision

Read the article at Forkast

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MainNewsRipple attai...

Ripple attains Singapore license to offer digital payment token services

Ripple attains Singapore license to offer digital payment token services

Ripple Markets APAC Pte Ltd., the Singapore subsidiary of San Francisco-based technology firm Ripple Labs, announced Wednesday that it has received a Major Payments Institution license from the Monetary Authority of Singapore (MAS). 

See related article: Ripple executive spells out Asia future after license success in Singapore

  • The issuance of a Major Payments Institution (MPI) license under Singapore’s Payment Services Act allows Ripple to legally provide digital payment token services in the city-state. The company was granted an in-principle approval for the license in June. 
  • There are 14 firms with MPI licenses from the MAS, including Circle, Paxos and Blockchain.com. Ripple is the second U.S.-based firm to receive the nod from Singapore’s central bank this week, as Coinbase, the largest U.S. exchange announced its license approval on Monday. 
  • “Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business,” Brad Garlinghouse, chief executive officer of Ripple, said in a statement.
  • Ripple said over 90% of its business is outside of the U.S. and the Asia Pacific is one of its fastest-growing regions.

See related article: U.S. SEC moves to appeal Ripple court decision

Read the article at Forkast

Read More

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XRP has emerged as one of the strongest-performing assets in recent weeks, defying br...
Apr, 14, 2025
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Prepare for XRP’s Market Journey: Insights from Ripple’s Legal Battle

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Ripple's legal battle with the SEC nears its end, raising investor caution. XRP's fut...
Apr, 14, 2025
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