Ripple Labs , the blockchain and financial services company, announced on March 25 that it is participating in the Monetary Authority of Singapore's (MAS) "Borderless, Liquid, Open, Online, Multi-currency (BLOOM)" initiative with the supply chain fintech firm Unloq.
The pilot program will test programmable cross-border trade settlements using the XRP Ledger and RLUSD.
The XRP Ledger is a blockchain network developed by some of Ripple Labs members and launched in 2012.
RLUSD is a stablecoin Ripple launched in December 2024, which is pegged 1:1 to the U.S. dollar. The value of one RLUSD is the same as that of one dollar. RLUSD has a market cap of more than $1.43 billion, as per DeFiLlama .
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Ripple supports settlement infrastructure development in Singapore
Ripple said the program will use digital settlement assets such as stablecoins and tokenized bank liabilities to address inefficiencies in cross-border trade settlements.
The payments get released only after predefined commercial conditions such as shipment verification are met. The structure enhances risk transparency and supports improved access to financing for small and medium-sized enterprises (SMEs).
The project aims to showcase a viable model for Singapore's future development of innovative and interoperable settlement infrastructure, Ripple said.
"Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive," said Ripple's managing director in the Asia-Pacific region, Fiona Murray.
"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."
XRP, XRP Ledger's native cryptocurrency, was trading at $1.41 at the time of writing, up 0.5% in a day.
Related: Top analyst predicts 100% upside for XRP in 2026
This story was originally published by TheStreet on Mar 25, 2026, where it first appeared in the Technology News section. Add TheStreet as a Preferred Source by clicking here.
