MAS Approval and License Expansion

MAS has approved Ripple’s expansion of its MPI license payment activities. Ripple can now legally offer digital payment solutions using digital payment tokens (DPTs), stablecoins — including its own RLUSD — and other crypto assets under the MAS regulatory framework. This development marks a significant step for fintech and crypto integration in the Asia-Pacific region.

Ripple CEO Monica Long commented:

“MAS has set a leading standard for regulatory clarity in digital assets, and we highly value Singapore’s forward-looking approach. Ripple has always adopted a regulation-focused strategy. Singapore proves that innovation thrives when rules are clear. This expanded license strengthens our ability to continue investing in Singapore and provide financial institutions with the infrastructure needed to transfer money efficiently, quickly, and securely.”

Ripple’s Asia-Pacific Strategy

The MAS approval demonstrates Ripple’s commitment to regulatory compliance in the Asia-Pacific region. Ripple will continue to provide digital payment solutions to corporate clients and financial institutions in Singapore while strengthening its blockchain-based infrastructure. The use of stablecoins and other digital payment tokens will also increase cross-border payment capabilities.

Fiona Murray, Ripple’s Vice President and Managing Director for Asia-Pacific, added:

“The Asia-Pacific region leads the world in real digital asset adoption, and on-chain activity has increased by roughly 70% year-on-year. Singapore is at the center of this growth. With this expanded payment scope, we can offer faster, more efficient payments and a broad range of regulated payment services to the institutions driving this growth.”

Ripple Payments provides fast, transparent, and reliable cross-border payments and on/off ramps for banks, crypto firms, and fintechs worldwide. The company’s fully licensed end-to-end solution manages infrastructure and operational complexity, enabling businesses to launch digital payment services quickly without additional costs or operational burden.

Why This Approval Matters

This MAS approval allows Ripple to offer digital payment solutions in Singapore legally and within a regulated framework. Ripple can now increase speed and reliability for payments using stablecoins such as RLUSD and other DPTs, while strengthening its strategic position in the Asia-Pacific region. The license also enhances Ripple’s credibility in corporate partnerships and global compliance.

Since establishing its Asia-Pacific hub in Singapore in 2017, Ripple has leveraged MAS’s leading regulatory role and clear frameworks to strengthen its operational infrastructure in the region. This step reinforces Ripple’s commitment to compliance, transparency, and strong regulatory partnerships.

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The Central Bank stated in its announcement on Thursday that it maintains requirements for crypto asset businesses, provided they do not offer financing, margin transactions, or trade incentives to prevent speculation among retail customers.

Moreover, MAS also wants crypto asset businesses to refuse locally issued credit card payments and determine customer risk awareness before allowing access to services.

While seeking balance on crypto regulations, Singapore is also trying to attract the industry. This announcement is the second response to feedback on proposed regulations for digital payment token (DPT) service providers in July.

The first phase in July demanded that they deposit customer assets into a legal trust account by the end of the year for safekeeping purposes.

Among less restrictive measures, MAS has eased accreditation investor qualification limits and announced that some crypto assets can be counted to meet the required 2 million Singapore dollars (1.5 million dollars).

MAS also imposes high accessibility and risk event reporting requirements. This is consistent with existing requirements applied to other systemically important financial institutions, but not for payment service providers, which is a special provision for crypto.

After all these decisions, Deputy Chairman responsible for financial supervision, Ho Hern Shin added to his statement, “These business and consumer access measures can help meet this objective, but it cannot isolate customers from losses arising from the inherently speculative and highly risky nature of crypto trading.”

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