Ripple Partners with Singapore Financial Authority's BLOOM Program for RLUSD Trade Finance Testing
In collaboration with Unloq, Ripple has entered the Monetary Authority of Singapore's BLOOM regulatory sandbox to evaluate RLUSD and XRPL capabilities for programmable international trade settlement operations within Singapore's financial ecosystem.
On Wednesday, fintech company Ripple announced its participation in the Monetary Authority of Singapore's (MAS) BLOOM regulatory initiative, partnering with supply chain finance technology provider Unloq to conduct testing of programmable international trade settlement leveraging the XRP Ledger alongside Ripple USD.
The experimental program will leverage Unloq's SC+ infrastructure, which is powered by smart contracts for trade finance applications. This platform consolidates trade obligations, conditions for settlement, and the complete financing workflow into one unified execution layer. According to the announcement, the testing phase will also incorporate Ripple's XRP Ledger (XRPL) technology as well as its enterprise-focused stablecoin offering, Ripple USD (RLUSD).
The Monetary Authority of Singapore introduced BLOOM—an acronym representing Borderless, Liquid, Open, Online, Multi-currency—in October 2025 with the objective of expanding settlement infrastructure through the implementation of tokenized bank liabilities alongside regulated stablecoin solutions.
This experimental initiative arrives just shy of four months following Ripple's announcement in December 2025 that MAS had granted approval for an expanded range of payment activities under the major payment institution license maintained by its Singapore-based subsidiary, Ripple Markets APAC.
According to Ripple and Unloq, the experimental program will employ digital settlement instruments, which include stablecoins as well as tokenized bank liabilities. Under this framework, RLUSD payments will be disbursed once specific commercial conditions that have been established in advance are successfully fulfilled. The two organizations stated that this operational model aims to enhance transparency regarding settlement risk while simultaneously facilitating improved access to trade-finance solutions for smaller enterprises.
Cointelegraph reached out to Ripple for comment on the timeline and details of the pilot initiative.
Singapore embraces tokenization
The nation of Singapore has persistently advanced its tokenization strategy spanning the domains of payments, settlement infrastructure, and capital markets.
On Nov. 13, 2025, MAS revealed its intentions to distribute tokenized MAS bills to primary dealers, with settlement processes to be executed utilizing its wholesale central bank digital currency platform. The monetary authority indicated it would provide additional information regarding this forthcoming trial during 2026.
The following day, on Nov. 14, MAS released an updated version of its Guide on Digital Token Offerings, designed to provide clarity on how Singapore's Securities and Futures Act (SFA) is applicable to tokenized capital market products and the entities responsible for issuing them. This revised guide featured case studies, outlined disclosure expectations, and established pilot program criteria intended to promote the responsible advancement of tokenization initiatives.