Blockchain payments firm Ripple has joined BLOOM, a new initiative led by the Monetary Authority of Singapore (MAS), aimed at advancing cross-border settlement using tokenized assets and regulated stablecoins.
BLOOM, short for Borderless, Liquid, Open, Online, Multi-currency, is designed to enhance settlement capabilities by leveraging tokenized bank liabilities and digital currencies.
As part of the initiative, Ripple is partnering with supply chain finance technology provider Unloq to pilot a use case focused on improving cross-border trade settlements.
The joint project integrates Unloq’s SC+ trade finance platform with Ripple’s blockchain infrastructure, including the XRP Ledger and its enterprise-grade stablecoin RLUSD.
The solution aims to streamline trade processes by embedding obligations, settlement conditions, and financing workflows into a single execution layer.
Under the proposed model, payments are automatically triggered when predefined conditions, such as shipment verification, are met.
This conditional settlement mechanism is expected to reduce counterparty risk, enhance transparency, and improve access to financing, particularly for small and medium-sized enterprises (SMEs).
Ripple said the initiative aligns with its broader goal of enabling compliant, real-world blockchain applications.
The company also highlighted Singapore’s role as a global leader in digital asset regulation, providing a supportive environment for innovation.
Unloq emphasized that the collaboration demonstrates how digital settlement infrastructure can be integrated into existing trade finance systems without disrupting traditional workflows.
The SC+ platform uses smart contracts to automate payment execution, reducing delays and operational inefficiencies.
The BLOOM initiative is part of MAS’s broader efforts to modernize financial infrastructure and explore interoperable frameworks for cross-border transactions.
By combining blockchain technology with regulated financial systems, the project aims to create scalable models for future adoption.
As global trade continues to evolve, initiatives like BLOOM signal growing momentum toward digitized, efficient, and transparent financial ecosystems powered by blockchain technology.
