🚀 Ripple strengthens its global presence from Singapore!
In a major strategic move, Ripple Labs has obtained expanded licenses from the central bank in Singapore to provide broader payment services for banks and businesses. This regulatory achievement enhances Ripple's position in the Asia-Pacific region, where on-chain activity has increased by 70% annually.
✨ Thanks to the principal payment institution license, Ripple can accelerate and reduce the cost of cross-border transactions using RLUSD and XRP, following its recent acquisition of the custodian Valisid and the approval of RLUSD for institutional use in Abu Dhabi.
📊 On the market front, XRP has experienced significant volatility over the past 24 hours, dropping from $2.19 to $2.05 with a trading volume exceeding 10.8 million. Despite this decline, recent regulatory developments provide the XRP ecosystem with long-term support that boosts investor and institutional confidence.
🔥 In summary: Ripple is not only navigating market volatility but also building a global regulatory foundation that positions it as a key player in the future of digital payments.
