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Ripple gets in-principle nod for digital asset services in Singapore

Published 06/22/2023, 01:39 AM
Updated 06/22/2023, 03:20 AM
© Reuters.
XRP/USD
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Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state.

Ripple confirmed the approval from the Monetary Authority of Singapore (MAS) in a June 22 statement. The approval will allow its subsidiary, Ripple Markets Asia Pacific, to further scale its On-Demand Liquidity. The ODL helps Ripple’s customers to move XRP around the world without the banks intervening as intermediaries.

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