According to TechFlow, blockchain payment company Ripple has obtained a digital asset license issued by the Monetary Authority of Singapore.

Ripple recently received a Major Payment Institution (MPI) license, allowing the company to provide regulated digital asset token services in the country. The license applies to Ripple’s Singapore subsidiary, Ripple Markets APAC Pte Ltd.

According to a company release, Ripple intends to continue prioritizing cryptocurrency adoption in the Asia-Pacific region, as the region is one of the fastest growing for the company.