In a galaxy not entirely unlike yours, the financial space-tech conglomerate Ripple, known for its significant contributions to the universe of digital tokens, has just grabbed a shiny new license in Singapore! With this, Ripple ambitiously plans to speed up the adoption of its digital tokens-XRP and its new stablecoin RLUSD-across the planet.
But surprisingly, this is just a tiny part of their latest adventures. Just before this major tech triumph, another win was celebrated in Abu Dhabi, where ADGM-Abu Dhabi Global Market-started waving its enchanted regulatory wands at licensed firms, allowing them to use Ripple’s RLUSD.
In a stellar press release from their mothership, Ripple announced that the Monetary Authority of Singapore (MAS) has given a thumbs-up to Ripple’s expanded Major Payment Institution (MPI) license. This decree allows Ripple to wave its magic payment wand more freely-a sparkling opportunity to enhance the flow of e-money across cosmic borders. As a result, Ripple proudly strides among the Alliance of Few on this lovely rock called earth, with such a robust, expanded license.
Let’s rewind a solar cycle: just last week, the Financial Services Regulatory Authority of Abu Dhabi (FSRA) blessed Ripple’s RLUSD as a regulated Fiat-Referenced Token in the Abu Dhabi Global Market. Both approvals highlight Ripple’s staunchly unwavering focus on compliance and transparency while unfolding its interstellar payment network. Or at least, that’s the story their press release tells.
What Does This Enchanting License Mean?
With the upgraded license, Ripple is stepping up the game for Ripple Payments, its intergalactic end-to-end payment platform. Here’s how it plans to teleport your funds to destinations unknown, using digital payment tokens (DPTs) such as XRP and RLUSD:
- Faster-than-light speed for international payments settled using digital tokens within minutes
- One-time onboarding, allowing businesses to manage collection, conversion, and payout through a single provider
- Access to digital assets without awkwardness of extra alien bank partners or complex infrastructure
Talking to your financial institution becomes less of a headache, says Ripple.
Ripple Leaders Praise Singapore for Having Rules Rather Like the Hitchhikers Guide
Ripple’s President Monica Long has bestowed heartfelt praise on Singapore, noting that its rules for digital assets are as clear as Ford Prefect’s penchant for exploring new systems. According to her, simple, transparent rules spell out the recipe for crafting actual products that could, theoretically, solve issues from breakfast cereal distribution to intergalactic trade, rather than merely existing as shiny trinkets of tech-indulgence.
Meanwhile, Ripple’s Asia Pacific VP, Fiona Murray, notes the region’s delightfully cyber-lead in global crypto usage, where on-chain activity has risen by nearly 70% in the past Earth year. A serious matter, indeed!
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2025-12-01 10:07