Ripple Markets APAC, a Singapore subsidiary of US fintech firm Ripple, has received regulatory approval to expand its payment activities in the city-state.

With the approval, the company, which holds a major payment institution ( MPI ) licence from the Monetary Authority of Singapore, plans to broaden its regulated payment offerings and deliver greater value to customers.

“This expanded licence strengthens our ability to continue investing in Singapore and to build the infrastructure financial institutions need to move money efficiently, quickly, and safely,” says Ripple president Monica Long.

Ripple Payments combines digital payment tokens ( DPTs ) and a global payout network to deliver fast, transparent, and reliable cross-border payments and on/off ramps for banks, crypto companies, and fintechs around the world.

Key benefits of Ripple Payments include:

• End-to-end payments solution: Using DPTs, such as RLUSD and XRP, to settle payments in a matter of minutes without the cost or operational burden of infrastructure buildout or maintenance.
• Single onboarding: Replacing fragmented partners with one trusted provider. Ripple streamlines operations by supporting the entire payment flow – collection, holding, swapping, and payout –  through a single integration.
• Simplified digital asset Access: Connecting to DPT seamlessly and choosing whether or not to hold DPT. Ripple eliminates the need for additional bank relationships, specialized infrastructure, or direct digital asset management.

“The Asia-Pacific region leads the world in real digital asset usage, with on-chain activity up roughly 70% year-over-year. Singapore sits at the centre of that growth,” says Fiona Murray, Ripple vice president and managing director, Asia-Pacific. “With this expanded scope of payment activities, we can better support the institutions driving that growth by offering a broad suite of regulated payment services, bringing faster, more efficient payments to our customers.”