Ripple joins Singapore MAS ‘BLOOM’ project to pilot trade settlement infrastructure

Ripple will participate in a digital payments project led by the Monetary Authority of Singapore (MAS).

On the 24th (local time), Ripple said it is joining the MAS-led ‘BLOOM’ initiative. BLOOM is a project that uses tokenized bank liabilities and regulated stablecoins to improve the efficiency of cross-border payments.

Working with supply-chain finance technology firm Unloq, Ripple will run a pilot project aimed at improving the payment structure for trade finance. The project is intended to validate a model for building Singapore’s next-generation payments infrastructure.

Unloq’s SC+ platform integrates trade contracts, payment terms and financing processes into a single execution framework. Combined with Ripple’s XRP Ledger and its RLUSD stablecoin, it will form an enterprise payments infrastructure.

Under this structure, payments are executed automatically only when pre-set conditions—such as confirmation of shipment—are met. This is expected to reduce transaction risk and improve small and medium-sized enterprises’ access to financing.

Fiona Murray, Ripple’s head of Asia-Pacific, said, “Singapore is a leading country that provides the regulatory clarity needed for the digital-asset industry,” adding that “Ripple is focused on expanding real-world use cases built on regulatory compliance.”

Letitia Chow, Unloq’s chief risk officer (CRO), said, “BLOOM is an important step in modernizing trade finance infrastructure within a regulated environment,” adding that it “will present a model for integrating digital payments infrastructure while maintaining existing financial structures.”