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Ripple is set to test its RLUSD stablecoin in Singapore as part of a central bank pilot under the Monetary Authority of Singapore’s BLOOM initiative, according to CoinDesk.
The pilot involves Ripple partnering with Unloq to automate trade payments using Unloq’s SC+ platform and the XRP Ledger. RLUSD transactions would be executed automatically once predefined conditions—such as shipment verification—are met.
The model is intended to replace elements of traditional trade finance that rely on paperwork, intermediaries, and long settlement cycles. The article says this approach could reduce processing times from weeks to near-instant execution.
Singapore’s participation is presented as a sign of growing regulatory confidence in RLUSD as an institutional-grade settlement tool. The initiative is also described as aligning with Ripple’s broader push toward enterprise adoption and compliant digital payments infrastructure.
Separately, a user on X suggested Ripple could increase XRP adoption by offering cheaper subscriptions to institutions that use the token in its payments network. Ripple CTO David Schwartz responded that while the idea has been discussed, he opposes artificial incentives.
Schwartz said Ripple should not “pay” institutions to use XRP if it is not the best option, because doing so would create unsustainable, artificial demand. He added that adoption should be driven by real advantages—such as lower costs, speed, and efficiency—rather than subsidies.
He also warned that incentive-based demand can fade once the benefits are removed. Instead, Schwartz said Ripple should focus on reducing friction and risk so that XRP’s utility supports organic adoption.
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