Ripple Joins MAS BLOOM Initiative, Partners With Unloq for Cross-Border Payment Pilot in Singapore

Ripple has joined the Monetary Authority of Singapore’s BLOOM initiative, partnering with Singapore-based fintech Unloq to pilot cross-border payment solutions under one of Asia’s most closely watched central bank programs.

The partnership places Ripple within a regulatory sandbox operated by Singapore’s central bank and financial regulator, with the pilot focused on testing cross-border payment rails. Unloq, a Singapore-headquartered digital payments firm, is named as Ripple’s co-participant in the initiative, according to a CoinDesk report detailing the arrangement.

The pilot reportedly involves stablecoin-powered trade finance using RLUSD, Ripple’s dollar-backed stablecoin, to facilitate settlement across corridors in Southeast Asia. The MAS-backed framework gives the project a level of regulatory endorsement that distinguishes it from typical private-sector blockchain pilots.

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Financial institutions participating in MAS-led digital money & cross-border payment initiatives (2025)

What Is Singapore’s MAS BLOOM Program?

BLOOM, which stands for Blended Finance and Open Money infrastructure, is an MAS-run initiative designed to connect regulated financial institutions and fintech firms to pilot tokenized and cross-border payment systems. The program builds on Singapore’s track record with digital asset infrastructure experiments, including Project Ubin and Project Guardian.

MAS consistently ranks among the most respected financial regulators globally, and Singapore serves as one of Asia’s largest hubs for cross-border remittances. Participation in a MAS-backed initiative carries significant weight for any blockchain or fintech company seeking institutional credibility in the region.

The BLOOM framework is designed to extend settlement capabilities beyond traditional banking rails, opening the door for stablecoin and tokenized asset settlement in regulated environments. This positions it alongside similar efforts by institutions exploring tokenized cash settlement services in other markets.

Ripple Expands Its Asia-Pacific Regulatory Footprint

The Singapore entry deepens Ripple’s presence in the Asia-Pacific region at a time when the company is aggressively expanding its regulated payment corridors globally. Following the resolution of its prolonged SEC case, Ripple has pivoted toward institutional and central bank partnerships as core growth drivers.

Singapore is a strategic fit. The city-state processes billions in cross-border remittances annually, and its regulatory clarity on digital assets has attracted a concentration of institutional crypto activity in Southeast Asia. Ripple’s On-Demand Liquidity product targets precisely this cross-border use case, and BLOOM participation could serve as a proving ground for RLUSD-based settlement in a regulated corridor.

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Countries connected via Ripple’s cross-border payment network

Ripple’s network already spans over 55 countries through RippleNet and XRP Ledger-based payment corridors. Adding a MAS-endorsed pilot to that footprint strengthens the company’s positioning against competitors in the institutional cross-border payments space, particularly as central banks and regulators worldwide accelerate digital payment infrastructure development.

The move also aligns with broader momentum in institutional blockchain adoption. Industry observers have noted that the BLOOM initiative specifically aims to expand safe stablecoin use in regulated payment flows, a validation of the asset class that Ripple has been building toward with RLUSD.

For coinlineup.com readers tracking institutional blockchain moves, the significance here is regulatory, not speculative. MAS endorsement signals that Singapore’s regulator sees viable commercial applications in stablecoin-powered cross-border settlement, and Ripple has positioned itself as one of the first major blockchain firms to test that thesis inside the sandbox.

The pilot’s timeline and specific corridor details have not been publicly disclosed. Ripple and Unloq are expected to share results as the BLOOM program progresses through its current cohort, which includes participants from across the traditional finance and fintech sectors.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.