Ripple Expands Singapore Payment Services with MPI License Upgrade
Ripple announced it has received approval from the Monetary Authority of Singapore to expand its payment services via an MPI license upgrade. The move clears the way for broader deployment of RLUSD (Ripple's USD stablecoin offering) alongside XRP for cross-border and domestic transactions in Singapore and neighbouring markets, subject to partner integrations and local onboarding.
The MAS nod is significant because an MPI status brings stricter regulatory oversight and clearer compliance expectations, which can help Ripple win business from banks, remittance providers and merchants that require regulated rails. While immediate market effects on XRP pricing will depend on adoption and liquidity, the upgrade strengthens Ripple's position to scale payments in Southeast Asia and could accelerate practical on-ramps for crypto-based settlements in the region.