Ripple, the blockchain tech firm behind $XRP, has received full approval for its license to operate as a major payments institution in Singapore.

The news comes in on the same day with a renewed thrust from the crypto firm after a recent ruling from U.S. courts denies the SEC from filing an appeal against Ripple Labs. The Monetary Authority of Singapore (MAS) granted this license to Ripple’s Singapore-based entity, Ripple Markets APAC Pte Ltd, following the provisional approval it received in June.

This development highlights Singapore’s growing significance as a hub for fintech and digital asset activities that prioritize innovation, consumer protection, and responsible growth. Ripple’s CEO, Brad Garlinghouse, expressed his pride in the achievement, emphasizing Singapore’s importance to the firm’s global operations. Garlinghouse notes that Singapore has been the firm’s Asia Pacific headquarters since 2017 and has played a pivotal role in Ripple’s global business.

Currently, roughly 90% of Ripple’s business is conducted outside the U.S. jurisdiction, underscoring the company’s international focus. Ripple is committed to prioritizing the Asia Pacific region for the adoption of its crypto-backed products.

Ripple now joins a list of 14 other entities that have received similar licenses from MAS, including the local branches of well-known crypto exchanges like

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Author: Vince Dioquino

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