Ripple secured expanded permission from the Monetary Authority of Singapore on 2025-12-01 to broaden its regulated payment services through Ripple Markets APAC Pte. Ltd., strengthening its regional payments footprint. The approval extends Ripple’s Major Payment Institution (MPI) remit and supports the integration of XRP and the newly approved RLUSD stablecoin into regulated payment rails.
Expanded permissions and institutional payment capabilities
The MPI expansion authorizes new services beyond the company’s earlier digital payment token (DPT) scope. The permissions now include account issuance, domestic and cross-border money transfers, and broadened DPT coverage to explicitly support XRP and RLUSD.
This framework allows Ripple to deliver fully licensed end-to-end payment flows for business clients and financial institutions, absorbing operational and blockchain complexity that users would otherwise manage independently.
The approval aligns closely with Ripple’s product roadmap. RLUSD — a USD-backed stablecoin approved in New York — is scheduled for global rollout on 2025-12-17, linking Singapore’s expanded permissions to imminent product deployment.
Monica Long, Ripple’s president, emphasized the regulatory clarity behind the approval, noting that Singapore “has set a leading standard for regulatory clarity.” The licence supports continued development of blockchain-enabled transfer infrastructure within the jurisdiction.
The Payment Services Act 2019 underpins the MPI structure in Singapore, establishing a licensing pathway for token-based and traditional payment services. The region’s increase in on-chain activity contributes to a market environment receptive to regulated crypto rails.
This approval builds on Ripple’s international regulatory footprint, which includes licensing in Dubai and New York approval for RLUSD. For institutional users, the practical advantages include access to a single licensed provider for custody and settlement, reduced integration and infrastructure costs, and clearer compliance alignment under MAS oversight.
Short-term liquidity outcomes will rely on client onboarding and adoption of XRP and RLUSD for settlement. Long-term impact depends on integration by banks and regulated fintechs into treasury and cross-border transfer processes.
The 2025-12-01 MAS approval widens Ripple’s regulated service scope in Singapore and directly supports the scheduled global launch of RLUSD on 2025-12-17.