- Ripple joins Singapore’s BLOOM initiative to test RLUSD settlements
- Focus is on programmable cross-border trade payments
- Smart contracts automate payments based on real-world conditions
- Initiative includes major global banks and fintech firms
Expanding Into Trade Finance
Ripple is participating in the Monetary Authority of Singapore’s BLOOM initiative, which aims to modernize cross-border payments using tokenized assets and stablecoins.
The pilot will use Ripple’s RLUSD stablecoin on the XRP Ledger to settle trade transactions more efficiently.
Programmable Payments in Action
Through a partnership with fintech firm Unloq, Ripple will test automated payment systems where funds are released only when predefined conditions, such as shipment confirmations, are met.
This approach reduces counterparty risk and improves transparency in global trade.
Part of a Broader Ecosystem Push
The initiative includes major institutions like JPMorgan, Standard Chartered, and DBS, highlighting strong institutional interest in programmable finance.
Singapore continues to position itself as a leading hub for regulated crypto innovation, supporting projects that bridge traditional finance and blockchain systems.
