Analyzing the Significance of Ripple's New Singapore Initiative for XRP – Expert Insights

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 day ago

Ripple's Expanded License: Ripple has received an upgraded Major Payment Institution license from the Monetary Authority of Singapore, allowing it to operate full end-to-end digital payment token services, including the use of XRP and its stablecoin RLUSD.
Institutional Activity on XRPL: The approval is linked to existing institutional activities on the XRP Ledger, with major financial institutions already utilizing tokenized assets within Singapore's regulatory framework.
Corporate Acquisitions Strengthening Infrastructure: Ripple's acquisitions of Hidden Road and GTreasury enhance its operational capabilities, creating a comprehensive pipeline for corporate treasury operations and liquidity management through XRP and RLUSD.
Foundation for Future Growth: The MAS approval is seen as a critical step towards establishing XRP as a significant player in global value flows, potentially enabling it to handle a substantial share of the estimated $100 trillion market.

About the author

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Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.