Ripple taps Singapore sandbox to test RLUSD trade finance

Ripple said it is joining the Monetary Authority of Singapore’s BLOOM initiative to test whether its RLUSD stablecoin can automate parts of cross-border trade settlement using tokenized bank liabilities and regulated stablecoins.

The company said it is working with Unloq, a supply chain finance software provider, on a pilot that releases payments when preset conditions are met, such as shipment verification.

The system uses Unloq’s SC+ platform to package trade obligations, settlement rules, and financing workflows, while RLUSD moves funds on the XRP Ledger.

Ripple said the effort follows recent moves to expand Ripple Payments and obtain an Australian financial services license through an acquisition.

🔗 Source: CoinDesk

🧠 Food for thought

Implications, context, and why it matters.

Ripple’s stablecoin joins a major Singaporean finance effort

BLOOM is a new program from Singapore’s central bank, the Monetary Authority of Singapore (MAS), and it builds on the multi-year “Project Orchid,” which has already produced market-ready commercial offerings 1.
Ripple joins a group that includes banks such as DBS and UOB, plus Circle, the issuer of the USDC stablecoin 2.
Ripple’s RLUSD is regulated under a New York Trust Company charter, and it launched in December 2024 with a modest initial supply 3.
The XRP Ledger includes native tools such as Clawback, a function that lets an issuer recover funds to meet regulatory requirements, which may fit an institutional trial 4.

A MAS-led trial may reshape stablecoin competition

This trial offers RLUSD a route to stronger credibility in institutional trade finance, where trust matters as much as technology 5.
With Circle in the same program, Ripple competes in a market where stablecoin utility in regulated finance carries more weight than trading volume 1.
MAS describes BLOOM as an effort to extend settlement capabilities, explore programmable controls for tighter compliance checks, and test AI-driven “agentic payments,” meaning payments initiated and managed by AI agents under predefined rules 1.
If BLOOM works well, other regulators and financial institutions may copy the approach and treat it as a model for using stablecoins in cross-border commerce 1.