Ripple is bringing its RLUSD stablecoin into real-world trade finance through a new pilot in Singapore’s central bank sandbox. The project tests how programmable digital dollars can speed up and automate cross-border payments tied to actual goods, not just crypto trades.
Inside Singapore’s BLOOM Trade Finance Pilot
Ripple has joined the Monetary Authority of Singapore’s BLOOM initiative, a sandbox that focuses on tokenized bank money and regulated stablecoins. BLOOM, which MAS launched to explore new settlement rails, lets companies trial live use cases under supervision rather than in fully unregulated environments.
For this pilot, Ripple is working with Unloq, a supply chain finance technology firm that runs the SC+ trade finance platform. SC+ bundles trade obligations, settlement terms, and financing workflows into one execution layer, then uses RLUSD on the XRP Ledger to move funds. When agreed conditions, such as shipment verification, are met, the system can automatically trigger payment in RLUSD.
Fixing Slow, Manual Trade Finance Processes
Today, many cross-border trade deals still depend on letters of credit, paper documents, and multiple correspondent banks. These steps can add days of delay and extra fees, especially for small and mid-sized exporters that lack strong banking relationships.
Ripple and Unloq want to replace parts of that process with code. In their model, once logistics partners or ports confirm that goods have been shipped and match the contract, SC+ instructs the XRP Ledger to settle payment in RLUSD within minutes. Banks and buyers can still see all obligations and events, but they do not need to manually push every payment.
RLUSD is Ripple’s institutional stablecoin, designed to sit on the XRP Ledger as a compliant, enterprise-grade settlement asset. By using RLUSD instead of volatile tokens, the pilot keeps price risk low while still gaining the speed and programmability of public blockchain rails.
Singapore has positioned itself as a hub for tokenized finance trials, including MAS projects that test tokenized deposits, funds, and foreign exchange. Ripple’s inclusion in BLOOM signals that regulators see RLUSD and the XRP Ledger stack as credible enough for supervised experiments with real trade flows, not only test tokens.
The BLOOM trial will start with selected trade corridors and controlled transaction volumes. If results are strong, Ripple and Unloq say the same pattern could extend to more currencies, tokenized bank liabilities, and other trade finance tools, such as receivables financing.
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