š„ Ripple joins monetary authority of Singaporeās BLOOM initiative and partners with unloq to advance programmable settlement infrastructure in trade finance
Ripple announced its participation in BLOOM, an initiative by the Monetary Authority of Singapore (MAS). BLOOM - Borderless, Liquid, Open, Online, Multi-currency - is designed to extend settlement capabilities in tokenized bank liabilities and regulated stablecoins.
Partnering with leading supply chain finance technology provider, Unloq, Ripple will pilot a use case aimed at transforming cross-border trade settlements. The project aims to showcase a viable model for Singaporeās future development of innovative and interoperable settlement infrastructure.
The joint initiative features Unloqās SC+ trade finance infrastructure, which integrates trade obligations, settlement conditions, and financing workflows into a unified execution layer. The solution leverage Rippleās institutional-grade infrastructure, the XRP Ledger (XRPL), and Ripple USD (RLUSD) - a trusted, enterprise-grade stablecoin, designed for enterprise use cases.
Payments are released only when predefined commercial conditions are met, such as shipment verification. This structure enhances risk transparency and supports improved access to financing for SMEs.
