Ripple is testing its RLUSD stablecoin for automated cross-border trade payments in Singapore's BLOOM Sandbox program, in collaboration with supply chain finance firm Unloq. The initiative, reported by PANews, aims to streamline trade finance by automating payment processes upon verification of shipment conditions, replacing traditional manual verification and letters of credit. The pilot uses Unloq's SC+ platform to integrate trade obligations and settlement terms, with transactions executed on the XRP ledger.
This marks Ripple's third major initiative in recent weeks, following the expansion of Ripple Payments into a full-stack stablecoin infrastructure and acquiring an Australian financial services license. Ripple is leveraging its regulatory standing to enhance RLUSD's adoption as a programmable settlement asset.
Ripple Tests RLUSD Stablecoin for Automated Cross-Border Trade in Singapore
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