Ripple has joined the Monetary Authority of Singapore’s BLOOM initiative and partnered with supply chain finance technology firm Unloq to pilot a programmable settlement model for cross-border trade finance, the company said on Wednesday.
BLOOM, short for Borderless, Liquid, Open, Online, Multi-currency, is an MAS-led initiative designed to expand settlement capabilities using tokenized bank liabilities and regulated stablecoins.
Through the pilot, Ripple and Unloq will test a trade finance model designed to streamline cross-border settlement and support Singapore’s broader efforts to build more connected financial infrastructure.
Trade Finance with Programmable Payments
At the center of the project is Unloq’s SC+ trade finance platform, which brings together trade obligations, settlement conditions, and financing workflows into a single execution layer.
The companies said the setup uses Ripple’s institutional blockchain infrastructure, the XRP Ledger and Ripple USD (RLUSD), to enable programmable settlement, with payments designed to be released only when predefined commercial conditions are met, such as shipment verification.
That model is intended to address long-standing inefficiencies in cross-border trade, where settlement processes are often fragmented, manual, and slow. By linking payment release to verified trade events, the structure is also meant to improve transparency around risk and help expand financing access for small and medium-sized enterprises.
Singapore Deepens its Digital finance Push
Fiona Murray, Ripple’s managing director for Asia Pacific, said Singapore continues to play a leading role in creating the regulatory clarity needed for digital asset innovation to grow.
She said Ripple’s participation in BLOOM aligns with the company’s focus on compliant, real-world blockchain use cases, adding that the partnership with Unloq is aimed at making global trade faster and more transparent.
Unloq President and Chief Risk Officer Letitia Chau said the initiative represents a step toward modernizing trade finance infrastructure in a regulated environment, adding that the pilot is intended to show how digital settlement rails can be integrated into existing trade and financing workflows without disrupting current commercial relationships.
Focus on Scalable Settlement Models
The partnership underscores a wider push across finance to turn blockchain from a test-case technology into something that supports real business activity, especially in payments, settlement, and trade finance.
For Ripple, the pilot is a chance to show how regulated stablecoins and blockchain-based settlement tools can work in everyday enterprise use, while giving Singapore a space to show another practical example of its push to build digital finance infrastructure that can scale and connect across systems.
