"Ripple's solution leverages institutional-grade infrastructure, the XRP Ledger (XRPL), and Ripple USD (RLUSD), a trusted stablecoin designed for enterprise use cases."
"Singapore's central bank detailed BLOOM as a continuation of Project Orchid, which explored a digital Singapore dollar and its supporting infrastructure."
"The initiative targets expanded use of tokenized commercial bank money and compliant stablecoins across G10 and Asian currencies, spanning domestic and cross-border payments."
"Through the program, MAS coordinates industry efforts across distribution and clearing of settlement assets, standardized compliance automation, and AI-driven payment execution."
Ripple has joined the Monetary Authority of Singapore's BLOOM initiative to enhance cross-border settlement systems. This collaboration incorporates XRP Ledger infrastructure and Ripple USD stablecoin into programmable settlement models. The initiative focuses on tokenized bank liabilities and regulated stablecoins for conditional payment execution, with a pilot involving Unloq for trade settlement. The program aims to expand the use of tokenized commercial bank money and compliant stablecoins across various currencies, enhancing payment execution and compliance automation.
Read at news.bitcoin.com
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