Ripple has significantly advanced its global regulatory standing, securing an expanded operational license in Singapore and winning approval for its stablecoin in Abu Dhabi. These developments empower the company to broaden its institutional payment services across key financial hubs in Asia and the Middle East.

Expanded License Paves Way for Singapore Growth

Ripple received approval from the Monetary Authority of Singapore for a Major Payment Institution (MPI) license, widening its scope of regulated services. This allows the company to scale its infrastructure for faster and more affordable cross-border transactions for enterprise clients. At the core of this service is Ripple Payments, which utilizes digital tokens like XRP and the company’s new stablecoin, RLUSD, to settle international payments efficiently.

Ripple President Monica Long highlighted the value of Singapore’s regulatory environment, stating that the new license provides a foundation for increased investment. The firm has operated in Singapore since 2017 and first secured its initial MPI license in 2023. This latest approval extends its capabilities beyond digital token services to a fuller suite of institutional offerings.

The expansion aligns with significant regional growth. Fiona Murray, Ripple’s head for the Asia-Pacific region, noted that on-chain activity in the area has climbed approximately 70% year-over-year. She described Singapore as “the center of that growth” and said the new permissions will help Ripple better serve the institutions driving this demand. To further support its enterprise clients, Ripple recently acquired Palisade, a wallet and custodian provider, to integrate custody services with its payment and liquidity tools.

RLUSD Stablecoin Approved in Abu Dhabi

In a parallel move, Ripple’s dollar-backed stablecoin, RLUSD, was cleared for institutional use in the Abu Dhabi Global Market (ADGM). The Financial Services Regulatory Authority, which supervises the financial free zone, recognized RLUSD as an Accepted Fiat-Referenced Token. This approval permits licensed firms within the ADGM to use the stablecoin for regulated financial activities, provided they meet strict requirements for reserves, transparency, and compliance.

This decision reinforces Ripple’s growing presence across the United Arab Emirates, where it has recently secured other approvals and onboarded partners like Zand Bank and Mamo. The company is also exploring bringing staking capabilities to the XRP Ledger (XRPL), a move that would push the blockchain further into the decentralized finance sector.