Ripple Tests RLUSD for Trade Finance in MAS Sandbox

Cross-border trade finance relies on letters of credit, manual document checks and correspondent banks, with settlement often taking days or even weeks. The Monetary Authority of Singapore, or MAS, launched BLOOM in October 2025 to allow institutions to test tokenized bank liabilities and regulated stablecoins. Through the initiative, Ripple is moving RLUSD—launched in December 2024 and approaching a market capitalization of $1.5 billion in March 2026—into real-world, institutional-grade settlement.

On March 25, 2026, Ripple announced that it and supply-chain fintech Unloq had joined MAS’s BLOOM pilot. Unloq’s SC+ platform brings together trade obligations, financing workflows and shipment-verification conditions. Once those conditions are met, the system automatically pays in RLUSD through the XRP Ledger, aiming to reduce manual settlement from days or weeks to near real time. The companies have not disclosed the pilot’s transaction value, number of participating businesses or commercial launch date.