Ripple joins the Singapore Monetary Authority's BLOOM Sandbox and Unloq pilot automatic settlement of cross-border trade finance

<p>Ripple announced that it has joined the BLOOM program under the Monetary Authority of Singapore (MAS), which will test an automatic settlement solution for cross-border trade finance driven by the stablecoin RLUSD within the regulatory sandbox. Ripple has cooperated with Unloq, a Supply Chain Finance technology company, to build a condition-triggered payment system mdash; When preset conditions such as cargo verification are met, the system will automatically release RLUSD payments, replacing the cumbersome process of traditional trade financing that relies on manual verification, letter of credit and agent bank relationships, and greatly shortening the original settlement cycle of days or even weeks.</p>