Overview
- Ripple, which announced the move Wednesday, entered the Monetary Authority of Singapore’s BLOOM sandbox to test automated cross-border trade payments with Unloq using RLUSD on the XRP Ledger.
- Unloq’s SC+ platform bundles trade obligations and financing steps into one system that releases RLUSD only after shipment checks, replacing paper-heavy letters of credit and manual bank reviews.
- BLOOM is a supervised MAS program for tokenized bank money and regulated stablecoins, and participants include firms like JP Morgan, DBS, Circle, and Coinbase, signaling high scrutiny of the pilots.
- The pilot settles in RLUSD rather than XRP, and Yahoo Finance reports about 88% of RLUSD’s $1.56 billion supply sits on Ethereum, which limits immediate direct demand for XRPL and the XRP token.
- If the model proves out, small exporters could get paid in minutes after verified delivery and gain cheaper financing, offering a real-world case for regulated stablecoins in trade finance.