Ripple has just been granted approval by the Central Bank of Singapore (MAS) to expand its payment license. As a result, Ripple can offer more payment services using XRP and the stablecoin RLUSD to banks and businesses in Singapore, especially for international money transfers.
Ripple views Singapore as a very important market because the country has an open policy and supports fintech.
Ripple's leadership stated that blockchain activity in the Asia-Pacific region has increased by approximately 70% over the past year, and Singapore is becoming the center of this growth.
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