The RLUSD stablecoin from Ripple is joining BLOOM, a Singapore pilot scheme that aims to modernize trade finance by using programmable digital settlements. The initiative seeks to achieve faster payments by replacing traditional manual verifications and letters of credit.
Ripple Joins Singapore BLOOM Pilot for Onchain Cross Border Trade Payments
25 March 2026 - 10:20 CET
The enterprise blockchain provider is partnering with Singapore-based supply chain technology firm Unloq in the BLOOM project led by the Monetary Authority of Singapore. The strategic partnership uses the institutional grade XRP Ledger infrastructure, the company detailed in a 25 Mar release.
Single onchain settlement layer
The BLOOM(Borderless, Liquid, Open, Online and Multi-currency) project aims to create a unified infrastructure for settling cross border transactions. The network specifically uses tokenized bank liabilities and regulated stablecoins to optimize the settlement process.
Ripple currently operates as one of the smaller stablecoin firms with a market capitalization of approximately $1.6bn. The company is significantly dwarfed by industry giants Tether and Circle which together control an estimated 90% of the broader stablecoin market.
Full lifecycle payment licence
The company holds a Major Payment Institution licence from the Singapore regulator, which enables it to perform end-to-end payment services in the city state, including collection, holding and custodial services.
The supply chain solution from Unloq is built directly on the XRP Ledger. The smart contract-driven trade finance platform uses the RLUSD stablecoin to automatically trigger payments the exact moment a physical shipment is verified. This specific structure enhances risk transparency and supports improved access to financing for small and medium-sized enterprises, the release said.
