Ripple secures Singapore Major Payments Institution License

Quick Take

  • Ripple has secured in-principle approval of an application for a Major Payments Institution License from the Monetary Authority of Singapore.

Ripple has secured in-principle approval of an application for a Major Payments Institution License from the Monetary Authority of Singapore, which will allow a local subsidiary to offer regulated digital payment token products and services in the city state. 

The approval will also allow the company to further scale customer use of its crypto-enabled On-Demand Liquidity service, the company said in a statement late Wednesday. The platform