Ripple just locked in another regulatory milestone in Asia. The company has received approval from the Monetary Authority of Singapore to expand its payment services under a Major Payment Institution license, opening the door to broader regulated use of XRP and the RLUSD stablecoin through its regional arm, Ripple Markets APAC.
This expanded authorization allows Ripple to deepen its presence in one of the world’s most important financial hubs. Ripple president Monica Long said MAS has set a global benchmark for regulatory clarity in digital assets, arguing that innovation scales faster when companies know exactly where the rules stand.
Ripple has long taken a regulation-first approach, and Singapore fits that strategy. According to Long, the updated license strengthens Ripple’s ability to invest locally and build the infrastructure banks and payment providers need to move money faster and at lower cost.
At the center of the push is Ripple Payments, a blockchain-powered platform that uses digital assets like XRP and RLUSD to move value across borders in minutes. The network connects banks, crypto firms, and fintechs, allowing them to launch global payment services without building expensive settlement infrastructure from scratch.
The model simplifies what is traditionally a fragmented process. Businesses onboard once instead of juggling multiple partners, settle transactions using digital payment tokens, and access crypto liquidity without opening new banking relationships or maintaining specialized systems.
The result is less friction and faster execution for institutional clients.
Fiona Murray, Ripple’s vice president and managing director for Asia Pacific, said the region continues to lead global digital asset adoption, with on-chain activity up roughly 70% year over year. Singapore remains central to that momentum, serving as a regulatory and financial anchor for Asia’s crypto economy.
The expanded license gives Ripple more room to support institutions driving growth across the region. Murray noted that regulated payment services at scale are essential for delivering faster, more efficient cross-border payments in Asia Pacific markets.
On the market side, RLUSD currently carries a market capitalization of about $1.26 billion, with daily trading volume near $79 million. XRP, however, has struggled to hold recent gains despite regulatory progress and increased institutional access.
XRP is trading around $2.00, down roughly 20% over the past month, including a sharp 9% drop in the last 24 hours. The token remains the fourth-largest cryptocurrency by market cap and hit an all-time high of $3.65 in July, fueled by regulatory optimism and expectations around future ETF approvals.
