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Blockchain payments company Ripple has received approval from the Monetary Authority of Singapore (MAS) to expand the scope of its Major Payment Institution (MPI) license, strengthening its presence in one of Asia’s most crypto-friendly jurisdictions.
Huge news from Singapore: https://t.co/KVxTs7IEKc
The @MAS_sg has approved an expanded scope of payment activities for our Major Payment Institution license – enabling us to deliver end-to-end, fully licensed payment services to our customers in the region. 🇸🇬
— Ripple (@Ripple) December 1, 2025
The updated license allows Ripple Markets APAC to offer a wider range of payment services, including collection, custody, digital token swaps, and payouts, all within Singapore’s regulated framework. The expansion builds on Ripple’s original MPI approval granted in 2023, reflecting growing regulatory confidence in the firm’s compliance and operational standards.
The MAS approval highlights Singapore’s ongoing strategy to balance innovation with oversight in the fast-evolving digital-asset sector. Ripple executives said the expansion cements Singapore as the company’s Asia-Pacific headquarters and a key hub for blockchain-based payments and remittances.
Monica Long, Ripple’s President, emphasized that the regulatory clarity offered by MAS supports long-term growth and responsible innovation. She added that the license expansion will allow Ripple to invest further in Singapore and enhance the payment infrastructure that enables institutions to move money securely and efficiently.
Beyond Singapore, Ripple has been reshaping itself from a crypto payments startup to a regulated financial infrastructure provider with major moves in 2025. In July, Ripple filed an application with the Office of the Comptroller of the Currency (OCC) for a national banking charter in the United States. If approved, Ripple would operate as a federally regulated bank, gaining access to traditional banking networks and settlement systems.
As part of its re-structuring, Ripple is also pursuing a “master account” with the Federal Reserve. Such an account could allow Ripple to hold reserves directly with the central bank, potentially offering stablecoin reserve custody and routing payment flows through Fed rails instead of relying on intermediary banks.
Simultaneously, Ripple is expanding its institutional infrastructure, including stablecoin custody; in mid-2025 it picked BNY Mellon as custodian for its stablecoin reserves (RLUSD), a move widely viewed as part of its bridge-building between crypto assets and legacy finance.
The MAS approval grants Ripple the ability to provide digital payment-token services, meaning it can leverage both its stablecoin RLUSD and its native cryptocurrency XRP for regulated cross-border settlements. Industry analysts view this as a major step toward integrating blockchain infrastructure with traditional financial systems.
With global regulators tightening scrutiny around crypto, Ripple’s success in obtaining an expanded license could signal a broader shift toward regulated blockchain payment ecosystems. For crypto investors, especially XRP holders, the move may reinforce long-term confidence in Ripple’s institutional strategy amid continued global expansion.
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