[Ripple Labs Approved to Expand Payment Business Activities in Singapore] BlockBeats news, December 1, according to Cointelegraph, Ripple Labs has received approval from Singapore's central bank to expand its payment business activities in Singapore, coinciding with its broader strategy to grow its business and institutional services through acquisitions. Ripple stated that its Singapore subsidiary, Ripple Markets APAC, has been approved by the Monetary Authority of Singapore (MAS) to expand the scope of regulated payment activities under its Major Payment Institution (MPI) license. Ripple President Monica Long said in a statement that the company values 'Singapore's forward-thinking regulatory approach,' and that the 'expanded license will enhance our ability to continue investing in Singapore and build the infrastructure needed by financial institutions to enable funds to flow efficiently, quickly, and securely.'