March 27, 2026
By Shubhii Verma
Ripple is working with the Monetary Authority of Singapore (MAS) on a pilot project to improve how international trade payments are settled using blockchain technology.
The project also includes a trade finance platform called Unloq. Together, they are testing a new system that uses Ripple’s blockchain network, the XRP Ledger, and Ripple’s stablecoin called RLUSD.
This pilot is part of a larger MAS initiative called BLOOM, which stands for Borderless, Liquid, Open, Online, Multi-currency. The goal is to modernise how money moves across countries using digital money like stablecoins and tokenised bank money.
What problem are they trying to solve?
In global trade, payments are often delayed. For example, a buyer may only want to release money after goods are shipped and verified. Today, this process involves many banks, paperwork, and waiting time, which can take days or weeks.
Ripple and its partners are trying to automate this. Their system can release payments automatically when certain conditions are met, such as shipment confirmation. This reduces delays, lowers risk, and improves transparency.
Why this matters for businesses
This is especially helpful for small and medium-sized businesses that often struggle with slow cross-border payments and limited access to trade financing. Faster and more reliable settlement means they can get paid quicker and manage cash flow better.
Why Singapore?
Singapore is known for having clear crypto regulations. MAS created rules in 2023 for stablecoins that require them to be fully backed by reserves and tied to strong currencies. RLUSD is designed to meet these rules, which is why it can be used in this pilot.
RLUSD has already grown quickly, with more than $1.4 billion in circulation. Ripple has also been expanding its payment infrastructure globally through acquisitions and partnerships.
This pilot shows how blockchain and stablecoins could soon become part of real-world trade finance, not just crypto trading.
