Ripple Expands To Singapore
Ripple, the cryptocurrency company, has announced that its subsidiary has secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This means that Ripple is now fully licensed to provide regulated digital payment token services in Singapore. The company’s CEO, Brad Garlinghouse, confirmed this development on his X platform. With Ripple already having its Asia Pacific headquarters in Singapore, this move will help the company continue its expansion in the region and promote the adoption of its crypto-enabled payment solutions.
In Asia, Ripple has already achieved significant success, with banks in countries like Japan, China, South Korea, Philippines, Indonesia, and Vietnam adopting its cross-border payment service. Japan, in particular, has contributed significantly to the trading volume of XRP.
Ripple Secures Another Victory Against The SEC
Ripple has also achieved another victory in its legal battle against the US Securities and Exchange Commission (SEC). Judge Analisa Torres denied the SEC’s motion for certifications of its interlocutory appeal. She stated that granting the application could prolong the action and open the door to other appeals. Instead, she set April 23, 2024 as the trial date. This decision is seen as a positive development for Ripple as it allows the case to be expeditiously advanced.
XRP Price Looks Good As Ripple Enters Top 100 Fintech Of 2023
Ripple’s efforts to disrupt the global financial architecture have been recognized as it recently made CB Insights’ Fintech 100 list for 2023. This annual list comprises the 100 most promising private fintech companies in the world. Ripple’s President Monica Lang reiterated the company’s intention to continue expanding globally.
These developments have had a positive impact on the XRP price, which is currently trading at $0.5317, up about 4% in the last 24 hours.
Hot Take: XRP’s Potential for Growth
Certain events, such as Ripple’s expansion into Singapore and its victory against the SEC, have raised hopes within the XRP community that the token could reach $1 before the end of the year. These developments demonstrate Ripple’s commitment to expanding its presence and promoting the adoption of its payment solutions. With successful partnerships in Asia and recognition as one of the top fintech companies, Ripple’s potential for growth in both value and adoption remains strong.
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