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Ripple joins the Monetary Authority of Singapore's BLOOM sandbox to pilot automatic settlement of cross-border trade financing with Unloq
Ripple announced its participation in the BLOOM program under the Monetary Authority of Singapore (MAS), where it will test a cross-border trade financing automatic settlement solution powered by the stablecoin RLUSD within the regulatory sandbox.
Ripple is collaborating with supply chain fintech company Unloq to build a condition-triggered payment system based on the XRP Ledger—when preset conditions such as goods verification are met, the system will automatically release RLUSD payments, replacing the cumbersome processes in traditional trade financing that rely on manual verification, letters of credit, and agent relationships, significantly reducing the settlement period from days or even weeks.
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