Ripple Wins Singapore Approval as XRP Whales Drive Market Shift

Ripple has secured expanded regulatory approval in Singapore, strengthening its payments business in Asia just as XRP whale activity surges across spot markets.

The move arrives during a challenging week for XRP’s price, but on-chain data suggests institutional-scale traders remain active.

Ripple announced on December 1 that the Monetary Authority of Singapore (MAS) approved an expanded scope of payment activities under its Major Payment Institution (MPI) license for its subsidiary, Ripple Markets APAC Pte. Ltd.

“With this approval, Ripple can broaden its regulated payment offerings and deliver greater value to customers in Singapore,” the company said in its statement.

Monica Long, President of Ripple, praised MAS’s regulatory clarity. She explained that MAS has set a leading standard for regulatory clarity in the digital asset sector.

This expanded license, she said, would enable Ripple to continue investing in Singapore. It would also power the firm’s capacity to build the infrastructure that financial institutions need to move money efficiently, quickly, and safely.

Huge news from Singapore: https://t.co/KVxTs7IEKc

The @MAS_sg has approved an expanded scope of payment activities for our Major Payment Institution license – enabling us to deliver end-to-end, fully licensed payment services to our customers in the region.