Overview
- The Monetary Authority of Singapore approved an expanded scope under Ripple Markets APAC’s Major Payment Institution license on Dec. 1.
- The update enables regulated collection, holding, swapping, and payouts within a single workflow that uses XRP and RLUSD for token-based settlement.
- Ripple says the move supports institutional clients across Asia Pacific, citing roughly 70% year-over-year growth in on-chain activity in the region.
- RLUSD has crossed $1 billion in market capitalization and recently gained ADGM recognition, with pilots involving Mastercard, WebBank, and Gemini and plans to launch in Japan in early 2026 through SBI Holdings.
- Ripple has not disclosed the full list of newly added permissions, and MAS’s public register continues to list digital payment token services under the company’s license while XRP trades near $2 after a pullback from midyear highs.