Ripple (CRYPTO: XRP) is piloting its RLUSD (CRYPTO: RLUSD) stablecoin in a trade finance sandbox backed by Singapore’s central bank, targeting faster and more efficient cross-border payments.
RLUSD Put To Test
The pilot, part of the Monetary Authority of Singapore’s BLOOM initiative, involves Ripple partnering with Unloq to automate trade payments, CoinDesk reported on Wednesday.
Using Unloq’s SC+ platform and the XRP Ledger, RLUSD transactions are executed automatically once predefined conditions, such as shipment verification, are met.
The model replaces traditional trade finance systems that rely …