Ripple has joined the Monetary Authority of Singapore’s BLOOM initiative and teamed up with Unloq to pilot a programmable trade settlement use case.

The initiative, led by MAS, is aimed at extending settlement capabilities using tokenised bank liabilities and regulated stablecoins.

The pilot is intended to showcase a model for Singapore’s future development of interoperable settlement infrastructure for cross-border trade.

The project will use Unloq’s SC+ trade finance infrastructure, which combines trade obligations, settlement conditions and financing workflows in a single execution layer.

It will also use Ripple’s infrastructure, the XRP Ledger and Ripple USD, or RLUSD.

The pilot will test how digital settlement assets can be used to address inefficiencies in cross-border trade settlement.

Under the model, payments are released only when pre-agreed commercial conditions are met, such as shipment verification.

The companies said this could improve risk transparency and support access to financing for SMEs.

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.”

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.”

Featured image: Edited by Fintech News Singapore, based on image by MAS