Ripple experienced unprecedented business momentum for ODL globally in 2022, with a majority of its growth driven by its Singapore operations. Last year, well over a majority of global ODL transactions flowed through Singapore, which serves as the company’s Asia Pacific headquarters.
Crypto giant Ripple's Singapore subsidiary Ripple Markets APAC has obtained in-principle approval (IPA) for the Major Payment Institution licence application from the Monetary Authority of Singapore (MAS).
This licence will allow the enterprise blockchain and crypto solutions provider to offer regulated digital payment token products and services in the city state as well as further scale its customers’ use of its crypto-enabled on-demand liquidity (ODL) service.
