Ripple has received a full license to operate as a major payment institution in Singapore, according to an October 4 statement. Following the in-principle approval the company received earlier this year, the Monetary Authority of Singapore (MAS) has officially granted Ripple's subsidiary, Ripple Markets APAC Pte Ltd, a full Major Payments Institution (MPI) license, allowing it to offer digital payment token services within the region.

Ripple's CEO, Brad Garlinghouse, expressed his enthusiasm, highlighting Singapore's pivotal role in the company's global operations. "Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business," said Garlinghouse. "Under MAS’ leadership, Singapore has developed into one of the leading fintech and digital asset hubs striking the balance between innovation, consumer protection, and responsible growth," he added.

Double win for Ripple

In a double win for Ripple, a U.S. judge has also rejected the Securities and Exchange Commission's motion for an interlocutory appeal in the ongoing legal battle. 

Ripple's latest achievement in Singapore reinforces the growing acceptance and adoption of digital assets worldwide. The country's regulatory clarity has been instrumental in its success, creating an environment where businesses and institutions can explore crypto solutions with confidence.