Ripple Markets APAC Pte. Ltd., the Singapore subsidiary of Ripple, secured an expanded Major Payment Institution (MPI) licence from the Monetary Authority of Singapore in December 2025, enabling a broader scope of regulated digital payment token services. The approval strengthens Ripple’s ability to scale its Ripple Payments platform in Singapore and reflects a compliance-driven approach to institutional adoption of XRP and the RLUSD stablecoin.

A single framework for custody, settlement and tokenized flows

The licence expansion authorizes a wider range of activities around digital payment tokens (DPTs), including collection, custody, swapping and payout. A DPT is defined as a token used to facilitate payment or money transfer services on distributed ledgers, and this approval builds on Ripple’s earlier 2023 MPI authorization.

The new permission consolidates operational layers—onboarding, custody, conversion and settlement—under one regulated entity. The Monetary Authority of Singapore has not detailed every operational category unlocked by the licence, suggesting ongoing regulatory review of scope and boundaries.

Operationally, the approval removes several intermediaries historically required for cross-border transfers. Businesses can now onboard once and route collection, conversion and payout through a single provider, reducing friction and improving settlement speed and liquidity flow on regulated digital-asset rails.

Positioned geographically, Singapore remains a strategic base for Ripple’s APAC expansion. The licence reinforces the firm’s region-first regulatory strategy alongside moves in the UAE and efforts toward a U.S. national banking licence, signaling integration with regulated financial frameworks rather than divergence from them.

For XRP and RLUSD, the impact is functional rather than technical. The approval creates a smoother path for institutions to use Ripple-issued tokens for settlement within compliant payment infrastructure.