Ripple obtains major payments institution license in Singapore

The Monetary Authority of Singapore (MAS) has granted Ripple an in-principle approval for a Major Payments Institution License.

The license will allow Ripple’s local subsidiary to offer regulated digital payment token products and services in Singapore.

Ripple will also be able to further scale customer use of its crypto-enabled On-Demand Liquidity service.

Ripple lets financial institutions to send money across borders instantly using XRP as a bridge currency.

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