Ripple Joins Singapore's BLOOM Sandbox to Test RLUSD in Trade Finance

By WSN Editorial TeamTech ReporterMarch 25, 20263 min readUpdated less than an hour ago

Ripple collaborates with Unloq in Singapore's BLOOM program to pilot RLUSD for trade finance, improving settlement processes.

Ripple, a financial technology company, announced it has joined the Monetary Authority of Singapore’s (MAS) BLOOM initiative alongside supply chain finance firm Unloq. The partnership will test Ripple USD (RLUSD) and the XRP Ledger (XRPL) for programmable cross-border trade settlements.

The pilot utilizes Unloq’s SC+ smart-contract-driven infrastructure, integrating trade obligations, settlement conditions, and financing workflows into one execution layer. This setup employs digital settlement assets like stablecoins and tokenized bank liabilities to release RLUSD payments upon meeting predefined commercial conditions.

Background on BLOOM Initiative

MAS launched the BLOOM program, short for Borderless, Liquid, Open, Online, Multi-currency, in October 2025. The initiative focuses on extending settlement capabilities through tokenized bank liabilities and regulated stablecoins to streamline international transactions.

This development follows MAS approving an expanded scope for Ripple Markets APAC’s payment institution license in December 2025. The pilot is designed to improve visibility into settlement risks and provide better trade-finance access for smaller businesses.

Singapore has been advancing its tokenization agenda, including plans announced on November 13, 2025, to issue tokenized MAS bills to primary dealers. These will be settled using MAS’s wholesale central bank digital currency, with further details expected in 2026.

On November 14, 2025, MAS updated its Guide on Digital Token Offerings, clarifying regulations under the Securities and Futures Act for tokenized products. This includes case studies and criteria for pilot programs to foster responsible tokenization development.