2026-3-25 12:37 |
Ripple is testing a new trade finance model built around its RLUSD stablecoin as it looks to speed up cross-border payments and reduce reliance on manual processes.
The pilot, developed with supply chain finance firm Unloq, will run on the XRP Ledger inside BLOOM, a regulatory sandbox created by the Monetary Authority of Singapore.
The initiative is designed to examine whether stablecoin-based settlement can streamline trade finance.
Payments in this sector often depend on intermediaries, document verification, and slow reconciliation systems that have remained largely unchanged for decades.
Pilot focuses on automationThe project centres on automating payment flows tied to trade conditions.
Ripple and Unloq are testing a system where funds can be released automatically once predefined requirements are met, such as shipment verification or fulfilment of contractual milestones.
RLUSD will serve as the settlement asset within a pilot built on Unloq’s SC+ platform.
The structure brings together trade obligations, financing rules, and payment execution within a single layer on the XRP Ledger.
By embedding these steps into one system, the companies aim to remove delays caused by fragmented processes.
Traditional trade finance often involves multiple checks across banks and intermediaries.
Documentary credits, compliance procedures, and correspondent banking links can stretch settlement timelines to days or weeks.
The pilot seeks to shorten this cycle by linking payment release directly to verified trade data.
BLOOM sandbox tests settlement modelThe trial will take place within BLOOM, which stands for Borderless, Liquid, Open, Online, Multi-currency.
The sandbox was launched by the Monetary Authority of Singapore in October 2025 to support the testing of tokenised bank liabilities and regulated stablecoins.
Within this environment, Ripple and Unloq will evaluate whether RLUSD can replace manual steps that have slowed cross-border trade for years.
The test will also measure how automation affects visibility into settlement risk, an area that remains a challenge for businesses operating across jurisdictions.
The companies said the model could provide clearer tracking of payment status and reduce uncertainty around settlement timing.
It may also help smaller firms access trade finance by lowering operational barriers tied to legacy systems.
RLUSD growth supports payments pushRipple launched RLUSD in December 2024 with institutional use as its main focus.
The stablecoin has since grown to a market value of about $1.5 billion, placing it among the larger digital assets used for payments.
The BLOOM pilot follows regulatory progress in Singapore.
In December 2025, the Monetary Authority of Singapore approved an expanded scope of payment activities for Ripple Markets APAC, strengthening the company’s presence in the region.
Ripple is also working to extend its footprint beyond Asia.
It has outlined plans to expand in Australia through an Australian Financial Services License, which it aims to obtain by acquiring BC Payments Australia Pty Ltd, subject to completion.
Broader trade finance shiftThe collaboration with Unloq reflects a broader move within financial markets to digitise trade finance infrastructure.
By combining settlement, financing, and verification processes on a distributed ledger, the pilot tests whether stablecoins can address inefficiencies embedded in existing systems.
The outcome of the BLOOM trial will help determine how RLUSD performs as a settlement asset and whether automated payment triggers can reduce delays without introducing new risks.
The results may also inform how regulators and institutions approach the use of stablecoins in cross-border trade.
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