Formal Approval Granted to Ripple for Singapore Payments License

Formal Approval Granted to Ripple for Singapore Payments License

Ripple Receives Full License from Singapore’s Central Bank

Ripple has announced that it has received a full license from Singapore’s central bank, the Monetary Authority of Singapore (MAS), to operate as a major payments institution in the country. This comes after the company received in-principle approval in June.

Continued Operations in Singapore

The license allows Ripple to continue its operations in Singapore, where it has had its Asia Pacific headquarters since 2017. Ripple CEO Brad Garlinghouse stated that Singapore has become a leading fintech and digital asset hub, emphasizing the country’s commitment to innovation, consumer protection, and responsible growth. He also highlighted the importance of Singapore to Ripple’s global business.

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Ripple’s acquisition of a full license from the Monetary Authority of Singapore solidifies its position as a major player in the country’s fintech and digital asset space. With its continued operations in Singapore, Ripple can further expand its services and offerings in one of the world’s most prominent financial hubs. This achievement showcases Ripple’s commitment to regulatory compliance and its ability to navigate complex licensing processes. As Ripple strengthens its presence in Singapore, it is well-positioned to capitalize on the growing demand for digital payment solutions in the region.

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Formal Approval Granted to Ripple for Singapore Payments License
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