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Ripple said it is exploring trade finance use cases involving RLUSD as part of a pilot in Singapore’s MAS Sandbox. The company announced its participation in BLOOM, an initiative by the Monetary Authority of Singapore (MAS) designed to extend settlement capabilities in tokenized bank liabilities and regulated stablecoins.
Ripple’s involvement in BLOOM—short for Borderless, Liquid, Open, Online, Multi-currency—centers on developing settlement capabilities that connect tokenized bank liabilities and regulated stablecoins. The initiative is intended to support Singapore’s development of an innovative and interoperable settlement infrastructure.
Ripple is collaborating with Unloq, a supply chain finance technology provider, to pilot a use case focused on transforming cross-border trade settlements. Ripple said the project will demonstrate a viable model for Singapore’s future development of settlement infrastructure.
The announcement is the third major update from Ripple within three weeks. In that period, Ripple said it expanded its payments platform into a full-stack stablecoin infrastructure, secured an Australian financial services license through an acquisition, and now has a central bank-backed pilot for trade finance.
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