The Monetary Authority of Singapore has approved Ripple’s application to provide crypto-related services in the city-state, with CEO bgarlinghouse praising the regulator for its “pragmatic” approach to crypto regulation.
“This in-principle regulatory approval from the MAS will enable us to better support our forward-thinking customers looking to hone in on blockchain and crypto technologies to build a more inclusive and borderless financial system.”
In 2022, Ripple managed to double the number of employees in its Asia Pacific headquarters as its Singapore base experienced a majority share of ODL transactions flowing through the city-state.providing digital money services in Singapore:published a whitepaper proposing a common protocol to specify conditions for the use of digital money such as CBDCs, tokenised bank deposits, and stablecoins on a distributed ledger.
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