🌖Blockchain payments company Ripple has obtained a digital asset license from the Monetary Authority of Singapore.
Ripple's newly received Primary Payment Institution (MPI) license allows the company to offer regulated digital asset token services in the country. This license applies to Ripple's subsidiary in Singapore, Ripple Markets APAC Pte Ltd.
“Since making Singapore our Asia Pacific headquarters in 2017, the country has played an important role in Ripple's global business. "We have recruited incredible talent and local leadership, doubled our headcount over the past year and plan to continue growing our presence in progressive jurisdictions like Singapore," said Ripple CEO Brad Garlinghouse in a statement. “Under MAS' leadership, Singapore has developed into one of the leading fintech and digital asset hubs that balances innovation, consumer protection and responsible growth.”
Ripple intends to continue prioritizing crypto adoption in Asia Pacific, as the region is one of the fastest growing regions, according to a company release.
Ripple joins many other well-known web3 companies to receive an MPI license from the Monetary Authority of Singapore. Stablecoin issuer Circle accepted it in June this year, followed by major crypto exchange Coinbase on October 2, The Block previously reported.
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Ripple's newly received Primary Payment Institution (MPI) license allows the company to offer regulated digital asset token services in the country. This license applies to Ripple's subsidiary in Singapore, Ripple Markets APAC Pte Ltd.
“Since making Singapore our Asia Pacific headquarters in 2017, the country has played an important role in Ripple's global business. "We have recruited incredible talent and local leadership, doubled our headcount over the past year and plan to continue growing our presence in progressive jurisdictions like Singapore," said Ripple CEO Brad Garlinghouse in a statement. “Under MAS' leadership, Singapore has developed into one of the leading fintech and digital asset hubs that balances innovation, consumer protection and responsible growth.”
Ripple intends to continue prioritizing crypto adoption in Asia Pacific, as the region is one of the fastest growing regions, according to a company release.
Ripple joins many other well-known web3 companies to receive an MPI license from the Monetary Authority of Singapore. Stablecoin issuer Circle accepted it in June this year, followed by major crypto exchange Coinbase on October 2, The Block previously reported.
#opbnb #ETH #Layer2 #BTC #crypto2023
👉Follow, Like, Comment & Share ❤