Ripple has entered a new phase of its Asia strategy after confirming participation in BLOOM, a regulatory initiative led by the Monetary Authority of Singapore, according to the announcement published on 25 March 2026. The program focuses on expanding settlement systems that use tokenized bank liabilities and regulated stablecoins, with a strong emphasis on interoperability and compliance.
The company has partnered with Unloq to pilot a trade finance model that runs on the XRP Ledger. At the center of the test sits Ripple USD (RLUSD), an enterprise-focused stablecoin that Ripple launched in December 2024.
A pilot built around automation and conditions
The joint project integrates Unloq’s SC+ infrastructure into Ripple’s blockchain environment. The system brings together trade obligations, settlement rules, and financing workflows into a single execution layer. Payments trigger only after predefined commercial conditions are verified.
That mechanism replaces traditional steps that rely on manual checks and document-heavy processes. Companies that took part in the pilot said that trade finance has long relied on correspondent banking networks and documentary credits that can take days or weeks to finish.
Under the new model, payment release happens automatically once shipment verification or other agreed conditions are met. The structure aims to reduce friction in cross-border transactions while improving transparency around settlement risk.
Ripple confirmed that the test will examine whether RLUSD can remove delays that have slowed trade finance for decades.
Singapore expands its tokenization agenda
BLOOM, which stands for Borderless, Liquid, Open, Online, Multi-currency, launched in October 2025. The initiative forms part of Singapore’s broader effort to develop regulated digital asset infrastructure.
The central bank has already outlined multiple tokenization efforts across payments and capital markets. In November 2025, MAS announced plans to issue tokenized bills to primary dealers. The regulator also updated its digital token guidance to clarify how existing securities law applies to tokenized assets.
Ripple’s involvement comes shortly after MAS expanded the payment permissions of its regional entity, Ripple Markets APAC, in December 2025. That approval strengthened Ripple’s regulatory position in Singapore and signaled closer alignment with local financial authorities.
Companies outline goals for trade finance access
Ripple and Unloq stated that the pilot focuses on more than speed. The model also addresses access to financing, particularly for small and medium-sized enterprises.
Digital settlement assets, including stablecoins and tokenized liabilities, provide clearer visibility into payment status and risk exposure. That transparency may help smaller firms secure financing more easily, as lenders gain confidence in settlement conditions.
Fiona Murray, Managing Director, Asia Pacific at Ripple, said on the announcement,
“Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive. Ripple is incredibly excited to be part of BLOOM, an initiative that perfectly aligns with our commitment to compliant, real-world utility for blockchain technology.”
She added,
“Built on the XRP Ledger, SC+ Solution, Unloq’s smart-contract-driven trade finance platform uses RLUSD to automatically trigger payments the moment the shipment is verified. This partnership combines Unloq’s supply chain expertise with Ripple’s secure technology to make global trade faster and more transparent.”
Letitia Chau, President and Chief Risk Officer of Unloq, said,
“BLOOM represents an important step toward modernising trade finance infrastructure in a controlled and regulated environment. Through SC+, we are demonstrating how digital settlement rails can be integrated into existing trade and financing workflows without disrupting commercial relationships. Collaboration with MAS and Ripple enables us to explore scalable, interoperable models for cross-border trade.”
RLUSD growth supports broader strategy
RLUSD has reached a market value near $1.5 billion since its launch, placing it among the larger stablecoins in circulation. Ripple positions the asset as a core component of its institutional payments strategy.
The BLOOM pilot reflects that direction. The company has continued to build infrastructure that connects regulated financial systems with blockchain-based settlement tools.
Ripple has also outlined expansion plans beyond Singapore. The firm has signaled interest in Australia through a proposed acquisition of BC Payments Australia Pty Ltd., which would support its application for an Australian Financial Services License.
Testing a new model for global trade
The pilot remains in a controlled environment under MAS oversight. The outcome will determine whether programmable settlement can operate at scale within existing financial systems.
Ripple and Unloq aim to demonstrate that blockchain-based infrastructure can integrate with traditional trade workflows without disrupting established commercial relationships. The test will also evaluate whether automation can reduce delays and improve efficiency across borders.
The results may shape how regulators and financial institutions approach tokenized settlement systems in the coming years.
Anastasiia G
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