Singapore Grants Ripple FULL License For Crypto Services, Here Are The Details
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October 6, 2023 10:03 pm
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Ripple keeps on getting bigger in Asia.
The Monetary Authority of Singapore has just approved Ripple a full license to provide cryptocurrency services.
In a new statement Ripple revealed “This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets.”
Take a look:
It’s official: Ripple is now fully licensed to provide digital payment token services in Singapore by @MAS_sg! Ripple is committed to delivering real-world crypto solutions for businesses in APAC.
Learn more: https://t.co/jD8xSc2pdd
— Ripple (@Ripple) October 4, 2023
Garlinghouse had something to say about the big move too:
"Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business"
– B. Garlinghouse CEO @RippleUnder MAS’ leadership, Singapore has developed into one of the leading fintech and digital asset hubs #fintech $XRP pic.twitter.com/xavmMCTXFA
— XRP_Cro 🛸 (@stedas) October 6, 2023
Here’s what Bitcoin News reported:
The Monetary Authority of Singapore (MAS) has granted Ripple a full license to provide crypto services. “This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets,” Ripple explained.
Ripple announced Tuesday that it is now fully licensed in Singapore. The company explained that its Singaporean subsidiary, Ripple Markets APAC Pte Ltd., has received a full Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS) to provide digital payment token services, four months after receiving in-principle approval. The announcement details:
This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets.
“Singapore is known as a leader in pioneering digital asset regulation, making it an ideal location for businesses and financial institutions to harness the power of crypto for cross-border payments, crypto liquidity, and central bank digital currencies,” Ripple added.
Ripple obtains full license to operate in Singapore as it expands in Asia-Pacific https://t.co/y8HgNJudmm
— CNBC (@CNBC) October 4, 2023
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