In a significant move to enhance global trade and financial systems, Ripple has joined forces with the Monetary Authority of Singapore (MAS) to pilot the use of the XRP Ledger (XRPL) and Ripple USD (RLUSD) stablecoin in programmable settlement models. This collaboration, announced on March 25, 2026, marks a pivotal step towards the widespread adoption of tokenized payments and programmable finance, particularly in cross-border transactions.
Revolutionizing Cross-Border Settlements
The pilot program, part of the MAS’s BLOOM initiative, aims to modernize cross-border settlement systems by integrating blockchain technology and stablecoins. The initiative builds on the success of Project Orchid, which explored the digital Singapore dollar and its supporting infrastructure. BLOOM seeks to expand the use of tokenized commercial bank money and compliant stablecoins across G10 and Asian currencies, covering domestic and cross-border payments, trade finance, and corporate treasury operations.
Key Partners and Technologies
Ripple’s participation in BLOOM involves a pilot with Unloq, a supply chain finance firm, focusing on trade settlement execution through integrated workflows and conditional payment triggers. The solution leverages Ripple’s institutional-grade infrastructure, the XRP Ledger, and Ripple USD (RLUSD), a trusted and enterprise-grade stablecoin designed for enterprise use cases.
“Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive,” said Fiona Murray, Managing Director, Asia Pacific at Ripple.
Unloq’s SC+ platform, built on the XRP Ledger, combines trade obligations, settlement logic, and financing processes into a unified execution layer operating on blockchain infrastructure. This system automates payment release once contractual conditions are met, ensuring transparency and efficiency in global trade.
Regulatory Oversight and Industry Collaboration
The BLOOM initiative is coordinated by MAS, involving a wide range of industry participants to ensure the distribution and clearing of settlement assets, standardized compliance automation, and AI-driven payment execution. Initial participants include major financial institutions and tech firms such as Anchorage Digital, Ant International, Circle, Coinbase, DBS, J.P. Morgan, Kasikorn Bank, OCBC, Partior, Schroders, Standard Chartered, Straitsx, Stripe, Temasek, UOB, and Xweave.
Significance of MAS Involvement
MAS’s involvement provides the regulatory oversight needed to test scalable blockchain infrastructure in a controlled environment. This partnership is crucial for accelerating the adoption of blockchain technology by major institutions and ensuring that the systems developed meet the highest standards of security and compliance.
“BLOOM represents an important step toward modernizing trade finance infrastructure in a controlled and regulated environment,” emphasized Letitia Chau, President and Chief Risk Officer of Unloq.
Future Implications and Insights
Ripple’s participation in the BLOOM initiative underscores the growing importance of blockchain and stablecoins in the future of finance. By integrating the XRP Ledger and RLUSD into a regulated framework, Ripple is paving the way for more efficient, transparent, and secure cross-border transactions. As the pilot progresses, it is expected to provide valuable insights and best practices that can be applied to other global financial systems, potentially reshaping the landscape of international trade and finance.
The collaboration with MAS also highlights the importance of regulatory clarity in fostering innovation and adoption in the digital asset space. As more countries and institutions embrace these technologies, the potential for a more interconnected and efficient global financial network becomes increasingly within reach.
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