Key Notes

XRP crashed more than 7% in the past 24 hours.

The token is now trading close to the $2 support level.

Singapore upgraded Ripple’s MPI license.

American fintech Ripple secured major regulatory progress in Singapore. The Monetary Authority of Singapore (MAS) granted it an expanded scope for the Major Payment Institution (MPI) license held by the firm’s Singaporean arm, Ripple Markets APAC Pte. Ltd. (RMA).

According to an announcement , Ripple now gains the authority to broaden its payment activity in one of the world’s most forward‑looking financial hubs.

Huge news from Singapore: https://t.co/KVxTs7IEKc

The @MAS_sg has approved an expanded scope of payment activities for our Major Payment Institution license – enabling us to deliver end-to-end, fully licensed payment

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