Ripple has won a big victory in Singapore. The Monetary Authority of Singapore (MAS) has approved XRP’s Major Payment Institution (MPI) license to cover more areas, allowing the company to offer a wider range of fully licensed payment services. This approval strengthens Ripple’s long-standing relationship with Singapore and gives the company a bigger share of Asia’s rapidly growing digital payments market.
Ripple got its first MPI license in 2023. Now, with this new approval, its Singapore branch, Ripple Markets APAC Pte. Ltd., can grow its payment business even more. There aren’t many blockchain companies in the world that have this kind of license, so XRP is one of the few cryptos that meet strict regulatory standards.
What the Expanded License Means
Ripple can now offer full payment services using XRP and its stablecoin RLUSD, thanks to this approval. The company says this will help banks, fintech startups, and crypto companies send money across borders faster and more efficiently.
Monica Long, the president of Ripple, praised Singapore’s clear rules about digital assets. She said that when rules are clear, businesses can come up with new ideas without worrying about breaking the law. She said that the new license will help Ripple put more money into Singapore and make payment systems that work well in the area.
Ripple Payments is a proprietary payment service that includes everything a business needs to send and receive money around the world. It takes care of blockchain transactions behind the scenes so that businesses don’t have to deal with complicated systems themselves.
In the press release, they highlighted three advantages of their service:
1. End-to-End Payments
Payments can settle within minutes using digital tokens like XRP and RLUSD. Businesses don’t need to build expensive infrastructure or maintain their own systems.
2. Single Onboarding
Instead of working with many partners for different parts of a payment flow, companies can now use Ripple as a single provider for collecting, holding, swapping, and sending funds.
3. Easy Access to Digital Assets
Businesses can connect to digital tokens without needing special bank accounts or storage systems. They can even choose whether or not to hold the tokens themselves.
The token issuer says this makes cross-border payments simpler, faster, and more transparent for companies across Asia. Fiona Murray, Ripple’s Managing Director for Asia Pacific, said the region has seen a huge rise in real-world use of crypto. On-chain activity across Asia is up around 70% in the last year, and Singapore sits right at the center of this growth. XRP has been present in Singapore since 2017, and the country serves as the company’s Asia-Pacific headquarters.
XRP Price Action
Even with Ripple’s recent major wins, XRP struggled in the market. The token fell 7.6% over the past 24 hours, performing worse than both Bitcoin and Ethereum. The drop came at a difficult moment for crypto markets, which faced heavy selling pressure early Monday.
Bitcoin slipped to $86,000, triggering more than $646 million in liquidations, mostly from traders holding long positions. Because XRP has a strong correlation with Bitcoin, its price fell sharply too.
XRP broke below a key support level at $2.16, which had held strong for three weeks. This set off stop-loss orders and a wave of forced liquidations in XRP futures, which made the price go down even more. If XRP doesn’t stay above $2.00, it could drop to the next support zone, of $1.80 and $1.87.
Data shows institutional traders sold heavily. XRP futures open interest dropped 8%, and there was a massive imbalance in liquidations, suggesting traders were exiting positions quickly. ETF inflows into XRP-related products continue to rise, but they weren’t enough to soften the short-term selling pressure.
Conclusion
Ripple’s expanded license from MAS marks a major milestone in the company’s global growth. It gives XRP the power to operate a complete, fully regulated payment system in one of the world’s most important financial hubs.
But in the short term, XRP’s price remains under pressure as the broader crypto market deals with volatility, technical breaks, and institutional selling. All eyes are now on whether XRP can stay above $2.00, a critical level that could determine its next move.
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Source: https://www.cryptonewsz.com/ripple-secures-mas-license-singapore/
