⚡️Ripple Labs has been granted permission to expand its payment business activities in Singapore.
On December 1st, according to Cointelegraph, Ripple Labs has received approval from the central bank of Singapore to expand its payment business activities in Singapore, coinciding with its broader strategy to expand its business through acquisitions and to serve institutional clients. Ripple stated that its Singapore subsidiary, Ripple Markets APAC, has received approval from the Monetary Authority of Singapore (MAS) to expand its regulated payment services under its Major Payment Institution (MPI) license. Ripple President Monica Long stated in a statement that the company values "Singapore's forward-looking regulatory approach." This "expanded license will enhance our ability to continue investing in Singapore and build the infrastructure needed for financial institutions to allow funds to flow efficiently, quickly, and securely."
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
⚡️Ripple Labs has been granted permission to expand its payment business activities in Singapore.
On December 1st, according to Cointelegraph, Ripple Labs has received approval from the central bank of Singapore to expand its payment business activities in Singapore, coinciding with its broader strategy to expand its business through acquisitions and to serve institutional clients.
Ripple stated that its Singapore subsidiary, Ripple Markets APAC, has received approval from the Monetary Authority of Singapore (MAS) to expand its regulated payment services under its Major Payment Institution (MPI) license.
Ripple President Monica Long stated in a statement that the company values "Singapore's forward-looking regulatory approach." This "expanded license will enhance our ability to continue investing in Singapore and build the infrastructure needed for financial institutions to allow funds to flow efficiently, quickly, and securely."