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Ripple Gains Payments License in Singapore, XRP Price Climbs 3%

June 22 (Cointime) - Ripple has received in-principle approval for its Major Payments Institution License application from the Monetary Authority of Singapore (MAS), allowing the company to offer regulated digital payment token products and services in the city-state.

The approval will further scale the use of Ripple's crypto-enabled On-Demand Liquidity (ODL) service. Ripple's CEO, Brad Garlinghouse, praised the MAS for its leadership in digital asset regulation and reaffirmed the company's commitment to the Asia-Pacific region. XRP price rose by 3% in response to the announcement, and the crypto market expects a rally to $1.

XRP XRP $2.20
-0.42%
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