Ripple, the leading provider of blockchain-based enterprise solutions across traditional and digital finance, 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 Singapore’s future development of innovative and interoperable settlement infrastructure.” – according to the press release.
The joint initiative features Unloq’s SC+ trade finance infrastructure, which integrates trade obligations, settlement conditions, and financing workflows into a unified execution layer. The solution leverage Ripple’s institutional-grade infrastructure, the XRP Ledger (XRPL), and Ripple USD (RLUSD) – a trusted, enterprise-grade stablecoin, designed for enterprise use cases.
„Ripple and Unloq are using digital settlement assets–like stablecoins and tokenized bank liabilities–to address structural inefficiencies in cross-border trade settlement. 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.” – the company explained.
Fiona Murray, Managing Director, Asia Pacific at Ripple said, “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.
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.”
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