Ripple Joins Singapore Sandbox to Pilot RLUSD Stablecoin in Trade Finance

Ripple has entered Singapore's regulatory sandbox to test its RLUSD stablecoin for cross-border trade finance, participating in the Monetary Authority of Singapore's (MAS) BLOOM initiative. The BLOOM project aims to enhance settlement capabilities through tokenized bank liabilities and regulated stablecoins, with Ripple's involvement underscoring efforts to integrate blockchain into compliant financial systems.

This move follows Ripple's recent expansion of its Major Payment Institution license in Singapore, which facilitates scaling its regulated payment services and promoting RLUSD adoption. Ripple is collaborating with Unloq on a programmable settlement solution, merging Unloq's SC+ platform with Ripple's XRP Ledger and RLUSD stablecoin.

The SC+ system consolidates trade obligations, settlement terms, and financing into a unified layer, enabling automatic payments upon meeting predefined conditions like shipment verification. This condition-based model replaces manual processes with automation, improving settlement risk transparency and capital efficiency in supply chains.

The use of digital settlement assets, including stablecoins, is expected to broaden trade finance access for small and medium-sized enterprises, which often face operational hurdles. The pilot aligns with Singapore's push for interoperable financial infrastructure via tokenization, with MAS's sandbox allowing controlled innovation testing.

Fiona Murray, Ripple's Asia Pacific Managing Director, stated Singapore leads in digital asset regulatory clarity, and the BLOOM initiative matches Ripple's goal of practical blockchain utility. Unloq highlighted that its SC+ platform shows digital settlement can merge with existing workflows without disrupting commerce.

The joint solution, built on the XRP Ledger, uses RLUSD to trigger instant payments upon shipment verification, linking supply chain data with financial execution. If successful, the pilot may provide a framework to modernize trade finance and advance regulated stablecoin use globally.