Ripple’s Singapore payments license has been formally approved.
Ripple proudly announced its attainment of a comprehensive digital payment tokens license granted by the Monetary Authority of Singapore. This milestone signifies Ripple’s achievement of a fully-fledged license , endorsing its position as a major payment s institution sanctioned by Singapore’s central bank. This authorization paves the way for Ripple to continue its operations in the country, following the in-principle approval it received back in June. In an official statement dated October 4th, the company conveyed that its local entity, Ripple Markets APAC Pte Ltd, had been granted the full license by the esteemed Monetary Authority of Singapore (MAS). Ripple’s CEO, Brad Garlinghouse, remarked in the statement, “Singapore has evolved into a prominent fintech and digital asset hub, successfully balancing innovation, safeguarding consumer interests, and nurturing responsible growth.” Garlinghouse further highlighted that Singapore has been the nucleus...