Ripple Expands Singapore Operations with MAS Pilot
Ripple has deepened its strategic focus on Asia by expanding its regulated activities in Singapore, a market it has operated in since 2017. The firm secured broader approval from the Monetary Authority of Singapore (MAS) under its Major Payment Institution license, allowing it to enhance its token-based settlement services. This move positions Ripple to better serve banks, fintechs, and other financial firms in a critical Asia-Pacific hub.
The most significant development is Ripple's participation in MAS’s Project BLOOM initiative. Teaming up with the firm Unloq, Ripple will pilot programmable trade settlement using the XRP Ledger and its RLUSD stablecoin. This project directly targets the persistent inefficiencies in cross-border trade finance by enabling payments that are automatically released once pre-agreed conditions, like shipment verification, are met. This provides a tangible, real-world framework for XRP's utility beyond speculative trading.
XRP Trading Volume Jumps to $3.6 Billion
The market responded decisively to the news of Ripple's operational progress. On March 25, XRP's daily trading volume surged from $2.1 billion to $3.6 billion, signaling strong market participation. The increased activity supported a price recovery, with XRP climbing from a low of $1.38 to $1.42. This price action was reinforced by on-chain data showing significant accumulation.
Over the past week, large holders, or 'whales,' have acquired approximately 40 million XRP, indicating investor confidence during the token's recent consolidation period. While traders watch the $1.42 level as a key resistance point, the combination of a credible utility narrative and substantial trading volume suggests a strengthening fundamental case for the asset.
