Ripple Labs’ Singapore unit, Ripple Markets APAC, received expanded permissions under a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The approval authorizes a broader suite of regulated digital payment token (DPT) services — including transactions involving the RLUSD stablecoin and XRP — and immediately changes the firm’s operating scope for institutional cross‑border payments in Singapore.
The expanded MPI permit enables end‑to‑end payment services for institutional clients, including fiat on‑ramps and off‑ramps, collections, custody, currency conversion and rapid payouts. The authorization builds on an earlier MPI approval in 2023 and explicitly covers digital payment tokens RLUSD and XRP, integrating them into regulated rails available in Singapore. Ripple’s Asia Pacific footprint dates to 2017, and the company has been steadily adding infrastructure and custody capabilities, including the November 2025 acquisition of Palisade, a custody and wallet provider.
The decision follows broader regulatory shifts that cleared legal uncertainty around XRP. The company’s multi‑year U.S. enforcement dispute was resolved in August 2025 in a manner that affirmed XRP’s non‑security status for secondary market transactions, a development cited by market participants as a factor in attracting international regulatory confidence.
Throughput figures referenced for the XRP Ledger indicate up to 1,500 transactions per second, and the company’s On‑Demand Liquidity (ODL) service — which uses XRP as a bridge asset to source liquidity for cross‑border settlement — is highlighted as a mechanism to reduce pre‑funding needs in nostro/vostro accounts.
A spokesperson quoted Ripple President Monica Long describing Singapore’s approach as “forward‑thinking,” framing the MAS approval as regulatory clarity that institutions seek. Fiona Murray, Ripple’s Asia Pacific managing director, has emphasized Singapore’s central role for scaling regional infrastructure.
What the expanded MPI allows Ripple Labs in Singapore
The expansion arrives amid accelerated on‑chain activity in the Asia‑Pacific region, which was described as showing a strong year‑over‑year rise in usage metrics. Ripple’s move into regulated payments in Singapore is positioned as part of a broader strategy that includes licensing and partnerships across the Middle East and Europe.
The company has secured regional permissions such as a DFSA license in the UAE and has engaged banks in the Gulf and partnerships promoting RLUSD.
MAS’s approval expands Ripple Labs’ regulated product set in a key regional hub and narrows a regulatory gap that has constrained institutional deployments. The practical implication is accelerated availability of regulated rails using XRP and RLUSD for institutional flows in Singapore.
