Ripple has officially joined BLOOM, a Monetary Authority of Singapore (MAS) initiative, and is teaming up with trade-finance tech firm Unloq to pilot programmable, stablecoin-based settlement for cross-border trade using RLUSD on the XRP Ledger.
BLOOM — short for Borderless, Liquid, Open, Online, Multi-currency — is a MAS-led program aimed at expanding settlement capabilities with tokenized bank liabilities and regulated stablecoins. By positioning Singapore as a regulated testbed for interoperable payment rails, MAS hopes to accelerate practical use cases that weave digital assets into existing financial infrastructure.
Ripple’s participation comes via a joint pilot with Unloq that builds on Unloq’s SC+ platform. SC+ combines trade obligations, settlement conditions and financing workflows into a single execution layer. In the pilot, Unloq’s smart-contract-driven workflow will use RLUSD and Ripple’s institutional infrastructure on the XRP Ledger to release payments conditionally — for example, only after shipment verification — creating programmable settlement flows that reduce operational lag and settlement uncertainty.
Ripple framed the project as both regulatory and utility-driven. Fiona Murray, Ripple’s managing director for Asia Pacific, said Singapore “continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive,” and described BLOOM as aligned with Ripple’s focus on compliant, real-world blockchain utility. She added that the SC+ solution uses RLUSD to automatically trigger payments once shipments are verified, combining Unloq’s supply-chain expertise with Ripple’s technology to speed up and clarify global trade.
Unloq echoed the integration-first approach. Letitia Chau, Unloq’s president and chief risk officer, emphasized that BLOOM offers a way to modernize trade finance “in a controlled and regulated environment” without forcing counterparties to rebuild commercial relationships, and said the pilot will test whether this model can scale beyond a narrow proof of concept.
For crypto markets, the pilot is notable because it places RLUSD alongside tokenized bank liabilities in a central-bank-led framework — reinforcing Ripple’s push to position RLUSD as an enterprise settlement asset rather than merely an exchange-traded stablecoin. More broadly, the initiative signals growing interest from regulators and incumbents in using regulated stablecoins and tokenized liabilities to make cross-border settlement faster, more conditional and more transparent.
At press time, XRP was trading at $1.4227.
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