International crypto payment services company Ripple (XRP) has received in principle approval for a Major Payments Institution (MPI) license from the Financial Authority of Singapore (MAS).
Ripple posted on its official website on June 21, Asia-Pacific (APAC) crypto payment services in the region scaling Regulatory agency of the Asian country Singapore within the scope of its activities from MAS MPI for license approval in principle announced their acquisition.
The company, along with the license, is a Singapore unit. cryptocurrencies And services can present. The license is also available to Ripple in the country. 5 times growth recording on-demand liquidity platform (ODL) even more to scaling will enable.
Ripple CEO Brad Garlinghouse Singapore’s in APAC quite open to business an important door stated that. Garlinghouse, taken licence together with the company with regulators working in harmony confirming the stability stated that.
Ripple Chief Legal Officer Stuart Alderoty In his statement on the subject, Singapore’s to the crypto industry satisfied with your approach stated that they are. Alderoty is the country’s cryptocurrency ecosystem. without hindering innovation He claimed that he had found a way to regulate it.
Alderoty is also with Singapore’s licensing program. attracting responsible crypto actors and with this license Ripple’s Coinbase or Circle like real One job, real One product which and rules these rules after it has been clearly stated conform required for have the means stated that he was among the companies.
Soon regulatory attitude Many cryptocurrency companies shut down their operations due to to Asia-Pacific on transport various moves made. For companies licensing busy aspect Singapore And Hong Kong appeared to be preferred.