Ripple Labs Expands Operations in Singapore
Ripple Labs has obtained green light from Singapore’s primary banking authority, the Monetary Authority of Singapore (MAS), allowing its local branch, Ripple Markets APAC, to broaden its payment services within the region. This approval comes as part of Ripple’s strategic intent to enhance their operations and grow through targeted acquisitions focused on institutional clients.
Leadership Praise for Singapore’s Regulatory Environment
Monica Long, the President of Ripple, praised Singapore’s progressive regulatory environment, asserting that the extended license enables the company to deepen its investment in the region. She emphasized that this move will aid in constructing the necessary financial infrastructure for institutions to transfer funds securely and swiftly.
Innovative Payment Infrastructure
The infrastructure provided by Ripple includes a digital payment system based on assets like its stablecoin RLUSD and XRP, designed for international transactions. This system facilitates a variety of functions such as collection, holding, exchanging, and disbursing funds for banks and businesses. As of the latest updates, Ripple has already engaged in multiple substantial acquisitions to broaden its reach, including the recent purchase of the crypto custody firm Palisade on November 4.
Regulatory Milestones and Market Growth
Ripple’s MPI license was granted earlier in 2023, allowing the company to legally operate within Singapore’s digital payment token sector, which primarily involves trading and exchanging digital assets. Since its establishment in Singapore in 2017, Ripple has identified the city-state as a crucial component of its international operations.
Surge in Cryptocurrency Activities in Asia Pacific
Amidst this expansion, the Asia Pacific region has witnessed a remarkable surge in cryptocurrency activities, with year-over-year on-chain activities increasing by approximately 70%. Fiona Murray, Ripple’s VP and managing director for the Asia Pacific, stated that Singapore is pivotal to this growth. She hinted that an enlarged scope of services would enhance Ripple’s capacity to assist institutions that are fueling this expansion by offering a comprehensive range of regulated payment solutions, thus facilitating faster and more efficient transactions for clients.
Global Cryptocurrency Transaction Growth
According to the 2025 Global Adoption Index from Chainalysis, released in early September, the Asia-Pacific region recorded the most significant growth in cryptocurrency transactions globally, with a 69% rise in total value received amounting to $2.36 trillion. This growth was largely driven by countries such as India, Pakistan, and Vietnam, with other nations like the Philippines, South Korea, and Thailand also making notable contributions to the top twenty rankings.
