Ripple Labs has received the green light from Singapore’s central bank to expand its payment activities. The approval comes through its subsidiary, Ripple Markets APAC, under the Major Payment Institution (MPI) license.
Monica Long, Ripple’s President, highlighted Singapore’s “forward-thinking approach” and said the expanded license strengthens Ripple’s ability to invest locally. The blockchain firm aims to build financial infrastructure for faster, safer, and more efficient money movement. Ripple’s payment system uses digital payment tokens, such as its stablecoin, RLUSD, and XRP, for cross-border transactions. It supports banks and businesses with collection, holding, swapping, and payouts.
Related read: Ripple Eyes U.S. Banking License as Global Partnerships Boost XRP Outlook
Growth Through Acquisitions
Ripple has been actively expanding its institutional offerings through strategic acquisitions and global events like the Ripple Swell 2025 conference. In November, it acquired Palisade, a crypto custody and wallet company. These moves strengthen Ripple’s services and enhance its global presence.
Singapore: An Important Hub
Ripple has had its office in Singapore since 2017 which serves as its Asia Pacific headquarters and is considered pivotal to its global business. Fiona Murray, Ripple’s Asia Pacific VP, noted that on-chain activity in the region has surged roughly 70% year-over-year, with Singapore at the center of that growth.
APAC Crypto Adoption Soars
According to Chainalysis’ 2025 Global Adoption Index, the Asia-Pacific region saw the highest year-on-year growth in crypto adoption. Total value received grew 69% to $2.36 trillion, led by India, Pakistan, and Vietnam, with the Philippines, South Korea, and Thailand also in the top 20.
Conclusion
With MAS approval and strategic acquisitions, Ripple is positioning itself as a major player in Asia’s booming digital payments market. The expanded license allows Ripple to serve institutions better and capitalize on the region’s rapid crypto adoption.
FAQs
Does Ripple have a banking license?
No, Ripple does not have a traditional banking license. Instead, Ripple holds several money-transmitter, virtual asset, and digital payments–related licenses across multiple jurisdictions. These regulatory licenses allow Ripple to provide enterprise blockchain, cross-border payments infrastructure, and custody services, but not to operate as a bank.
How many licenses does Ripple have?
Ripple holds dozens of regulatory approvals worldwide, including:
U.S. Money Transmitter Licenses (MTLs) across multiple states
A Major Payment Institution (MPI) license in Singapore
A Virtual Asset Service Provider (VASP) license in Dubai (VARA)
EMI and payments-related approvals via acquired entities
The exact count evolves as Ripple continues expanding globally, especially after acquisitions like Metaco and Palisade to strengthen its institutional offerings.
Do any banks actually use Ripple?
Yes, hundreds of banks and financial institutions have partnered with Ripple over the years, primarily through RippleNet, Ripple’s blockchain-powered payment network.While many institutions pilot or integrate Ripple’s technology for settlement and liquidity routing, it’s not always public which ones use XRP for on-demand liquidity (ODL). Historically disclosed partners include:
Santander
SBI Holdings
Standard Chartered (via partnerships with Ripple firms)
Bank of America (long-standing but largely undisclosed relationship)
Ripple solutions are used for faster cross-border payments, compliance flows, and enterprise blockchain infrastructure, not traditional retail banking.
