Ripple obtains MPI license from Singapore’s MAS
Ripple has secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This approval follows MAS’ initial in-principle approval for Ripple’s license application in June 2023. With this license , Ripple can provide regulated digital payment token services in Singapore. Given that approximately 90% of Ripple’s business takes place outside the United States, the Asia-Pacific (APAC) region is gaining prominence as a significant market for the blockchain company. You might also like: Ripple backs out, won’t acquire Fortress Trust Brad Garlinghouse, the chief executive officer of Ripple, said: “Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business. We have hired exceptional talent and local leadership, doubling headcount over the past year, and plan to continue growing our presence in a progressive jurisdiction like Singapore. Under MA...