Ripple has received regulatory approval in principle from Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), to offer digital asset payments and token products through its subsidiary Ripple Markets Asia Pacific. This will enable Ripple to scale its On-Demand Liquidity (ODL) service, which helps customers move XRP around the world without banks as intermediaries. The approval expands Ripple’s customer reach and allows it to offer compliant products, according to Stu Alderoty, Ripple’s chief legal officer. Ripple CEO Brad Garlinghouse praised Singapore for its innovation-first approach to cryptocurrency-related services, calling the country a “prominent gateway” for Ripple’s business operations in the Asia Pacific region. Ripple is awaiting a ruling on its case with the US Securities Exchange Commission, which sued the company in December 2020 for allegedly offering XRP as an unregistered security.