Ripple’s Enhanced License in Singapore Boosts Crypto Payment Expansion

Ripple recently obtained an expanded regulatory license from the Monetary Authority of Singapore, granting its local branch the authority to provide a wider range of regulated payment solutions. This includes the utilization of XRP and its stablecoin for token-based settlements. Singapore is strategically important to Ripple as it aims to grow its cross-border payment operations in the Asia-Pacific region. Notably, blockchain activities in the region have seen a significant 70% year-on-year increase.