Nikolas Sargeant
Ripple has joined the Monetary Authority of Singapore's BLOOM initiative alongside supply chain finance firm Unloq to pilot programmable cross-border trade settlement using the XRP Ledger and Ripple's enterprise stablecoin, RLUSD.
The pilot will run on Unloq's SC+ infrastructure, a smart-contract-driven platform that consolidates trade obligations, settlement conditions, and financing workflows into a single execution layer. RLUSD payments will be released automatically when predefined commercial conditions are met, with the model designed to improve settlement risk visibility and broaden trade finance access for smaller businesses.
MAS launched BLOOM, Borderless, Liquid, Open, Online, Multi-currency, in October 2025 to extend settlement capabilities using tokenized bank liabilities and regulated stablecoins. The initiative provides a structured environment for testing real-world applications of digital settlement assets in institutional contexts.
The pilot follows MAS approving an expanded scope of payment activities for Ripple's Singapore subsidiary, Ripple Markets APAC, in December 2025, a regulatory green light that has positioned the company to deepen its presence in one of Asia's most active tokenization markets.
Singapore has been methodically building out its tokenization agenda. In November 2025, MAS announced plans to issue tokenized MAS bills to primary dealers settled via wholesale central bank digital currency, and updated its Guide on Digital Token Offerings to clarify how securities law applies to tokenized capital market products, adding case studies, disclosure expectations, and pilot program criteria.
Cointelegraph reached out to Ripple for further details on the timeline and scope of the pilot at the time of publication.
