Ripple has joined the Monetary Authority of Singapore‘s (MAS) BLOOM initiative, partnering with Unloq (formerly Linklogis International) to pilot a programmable settlement solution for cross-border trade finance.

The pilot will demonstrate how digital settlement assets — including regulated stablecoins and tokenised bank liabilities — can streamline trade settlements, improve transparency, and reduce risk. It is part of Singapore’s broader push to develop interoperable, multi-currency settlement infrastructure.

How the Technology Works

The solution combines Ripple’s institutional-grade blockchain infrastructure — the XRP Ledger (XRPL) and Ripple USD (RLUSD) — with Unloq’s SC+ platform. Payments are automatically triggered once predefined conditions are met, such as the verification of a shipment. This removes manual intervention from the settlement process and reduces counterparty risk.

The model is designed to benefit small and medium enterprises (SMEs) in particular, improving their access to trade financing by making the process faster and more transparent.

What Singapore’s Regulator Is Trying to Achieve

MAS launched the BLOOM initiative to test the practical application of digital assets in real-world financial workflows. Ripple’s participation signals growing institutional confidence in Singapore as a regulated environment for blockchain-based finance.

“Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive. Ripple is incredibly excited to be part of BLOOM, an initiative that aligns with our commitment to compliant, real-world utility for blockchain technology.” — Fiona Murray, Managing Director, Asia Pacific, Ripple

Why This Matters for Southeast Asia

Cross-border trade settlements in Southeast Asia remain slow and costly, often relying on legacy banking infrastructure. A successful pilot under a MAS-backed initiative could accelerate the adoption of programmable settlement infrastructure across the region, with implications for trade-dependent economies like Indonesia, Vietnam, and Thailand.