Ripple’s Big Singapore Win: What The Expanded License Allows Now

Singapore’s MAS has widened Ripple’s MPI license scope, enabling regulated token services, end-to-end payments and major growth across Asia-Pacific.

MAS has expanded Ripple’s MPI license, allowing the company to offer a much wider range of regulated payment services and marking a notable regulatory milestone for the company’s operations in Singapore.

Ripple first secured a full MPI license in 2023, enabling digital payment token services but limiting comprehensive end-to-end payment capabilities until the restrictions were removed in the 2025 expansion.

The upgraded license now permits full cross-border payment processing, regulated XRP and RLUSD services, liquidity solutions, on/off-ramps and enterprise-grade settlement tools under Singapore’s strict oversight.

The expanded license positions Ripple to meet rising institutional demand across Asia-Pacific, compete in major remittance corridors, offer XRP- and RLUSD-based services and strengthen relationships with regional regulators.

Ripple took a big step ahead in Singapore when the Monetary Authority of Singapore (MAS) extended the scope of Ripple’s Major Payment Institution (MPI) license. This permitted the company to offer a significantly broader range of regulated payment services.

For Ripple, which regards Singapore as its main center of operations in the Asia-Pacific region, this decision marks the start of a new stage of international growth.

This article discusses how Ripple set its foot in Singapore, what the extended MPI license allows and the prevailing challenges for Ripple in the country.

In 2023, Ripple’s subsidiary Ripple Markets APAC obtained a full MPI license under Singapore’s Payment Services Act (PSA). This allowed the company to provide digital payment token services in compliance with strict rules on Anti-Money Laundering (AML), consumer protection, transaction monitoring and operational resilience.

However, the license restricted Ripple to certain digital token-related activities. It did not permit the comprehensive end-to-end payment solutions that banks, fintech companies and large corporations increasingly require. The 2025 expansion of the license removes those limitations.

Source: CoinTelegraph