Ripple has secured approval from the Monetary Authority of Singapore (MAS) to expand the scope of payment activities under its Major Payment Institution license, enabling the company to broaden the reach of its regulated cross-border payments business in one of its key global hubs.

The updated permissions apply to Ripple Markets APAC Pte. Ltd., the firm’s Singapore entity, and provide Ripple with more flexibility to offer token-based settlements (such as XRP, stablecoin RLUSD, and others) and related payment services to banks, fintechs, and crypto firms operating in the city-state.

Ripple is one of a handful of blockchain-focused companies to now hold an MPI license, per a release shared with CoinDesk.

The expanded scope will let the firm to roll out a larger suite of regulated payout, settlement and on/off-ramp services using its digital payment tokens, including RLUSD and XRP, without requiring customers to take on direct exposure or build bespoke infrastructure.

The firm's Payments product combines digital asset settlement with a global payout network, letting clients route funds, swap into tokens, and settle transactions through a single integration.

The Asia-Pacific remains Ripple’s fastest-growing region, with the firm citing a roughly 70% increase in on-chain activity year over year. Singapore, where Ripple established its APAC headquarters in 2017, has become a central node in that growth following several years of regulatory groundwork by MAS.

The regulator was among the earliest to introduce a clear licensing framework for digital assets, attracting a mix of traditional financial institutions, crypto-native companies and payments firms seeking regulatory certainty.

Ripple said the additional permissions will support further investment in Singapore and expand its ability to serve regional financial institutions as demand for regulated settlement rails continues to grow.