Ripple Trials RLUSD in Singapore, What’s Next?

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Ripple Trials RLUSD in Singapore, What’s Next?

Jakarta, Pintu News – Singapore is back in the spotlight of the digital finance world after Ripple (XRP) officially joined the BLOOM sandbox initiative initiated by the Monetary Authority of Singapore (MAS). The collaboration involves Unloq, a supply chain finance technology company, to test the use of Ripple USD (RLUSD) and XRP Ledger (XRPL) in cross-border trade settlement.

This move marks a new chapter in the use of stablecoins and asset tokenization in Southeast Asia’s financial sector. With more innovations, Singapore is strengthening its position as a center of development for blockchain technology and digital assets in the region.

Ripple and Unloq: Strategic Collaboration in BLOOM Sandbox

Ripple (XRP) and Unloq are officially part of the BLOOM pilot project initiated by MAS. The project aims to test cross-border trade settlement using smart contract technology and the RLUSD stablecoin. Unloq delivers SC+ infrastructure that integrates trade obligations, settlement terms, and financing flows in a single digital execution layer. =

Thus, the settlement process becomes more efficient, transparent, and can be programmed according to business needs. This pilot project utilizes the advantages of XRP Ledger (XRPL) which is known for its speed and low transaction costs. RLUSD, a stablecoin made by Ripple (XRP), is specifically designed for the needs of corporations and financial institutions.

Under this scheme, RLUSD payments will be released automatically when predetermined commercial terms are met. This model is expected to improve the visibility of settlement risk and expand access to trade finance for small and medium enterprises.

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MAS BLOOM Initiative: Driving Tokenization and Financial Innovation

BLOOM, which stands for Borderless, Liquid, Open, Online, Multi-currency, was launched by MAS in October 2025 to expand its tokenization-based settlement capabilities. The initiative promotes the use of regulated stablecoins and tokenized bank liabilities to support cross-border transactions.

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MAS aims to make Singapore’s financial ecosystem more adaptive to developments in blockchain technology and digital assets. As such, Singapore can maintain its position as a pioneer in the adoption of cutting-edge financial technologies in Asia. Additionally, in December 2025, MAS granted approval for the expansion of the scope of payment activities for the primary payment institution license held by Ripple Markets APAC.

This signifies the regulator’s confidence in the innovations that Ripple (XRP) and Unloq are bringing to the digital finance ecosystem. MAS also continues to update regulations and guidelines related to digital token offerings, to ensure responsible development of tokenization. This pilot project is expected to create a new settlement model that is more secure and efficient.

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Singapore Strengthens Tokenization Agenda in Various Sectors

Singapore is increasingly aggressive in expanding its tokenization agenda in the payments, settlement and capital markets sectors. On 13 November 2025, MAS announced plans to issue tokenized MAS bills to primary dealers, which will be settled using wholesale central bank digital currency (CBDC).

The move is part of MAS’ efforts to test and adopt new technologies in the nation’s financial system. MAS also plans to share more details regarding this trial in 2026. A day later, on November 14, MAS updated its Digital Token Offerings guidelines to clarify the applicability of the Securities and Futures Act (SFA) to tokenized capital market products.

The new guidelines include case studies, disclosure expectations, as well as pilot program criteria for responsible tokenization development. With clearer regulations, industry players are expected to be more confident in developing and adopting blockchain-based solutions. Singapore is further established as a center of digital finance innovation in the Asian region.

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