Ripple Says Singapore License Formally Approved

Ripple Says Singapore License Formally Approved

Ripple’s Singapore arm has secured a license as a major payments institution from the Monetary Authority of Singapore, the company said, allowing it to keep providing digital payment token services in the fast-growing region. It's the second piece of good news for Ripple in the past eight hours.
“Singapore has developed into one of the leading fintech and digital asset hubs striking the balance between innovation, consumer protection and responsible growth,” said Ripple CEO Brad Garlinghouse, in a statement, adding that the country has been the company’s Asia Pacific headquarters for six years.