RLUSD Hits $1.5B Market Cap As Ripple Tests Stablecoin in Singapore

Ripple is exploring new ways to simplify international trade payments via RLUSD. The platform is testing its stablecoin, RLUSD, in Singapore through a pilot program run by the Monetary Authority of Singapore (MAS). RLUSD market cap is up by over 1000% in last one year surpassing $1.5 Billion. 

Ripple Trials RLUSD in MAS Sandbox

According to the latest reports, Ripple has joined Singapore’s MAS BLOOM initiative to test its RLUSD stablecoin. The move intends to analyze whether the stablecoin can speed up cross-border trade by replacing the slow, manual payment process.

Notably, BLOOM is a central bank-backed project that explores payments using regulated stablecoins and tokenized bank money. For Ripple, Singapore’s central bank is providing a sandbox environment to check the capabilities of RLUSD.

This move comes amid the growing adoption of RLUSD in Latin America. As CoinGape reported, amid this increasing acceptance of the stable token in the region, Ripple is looking to attain a VASP license in Brazil.

As part of this initiative, Ripple is working with Unloq to test a new payment system for cross-border trade. The system releases RLUSD payments automatically once conditions like shipment verification are completed.

RLUSD recently surpassed $1.55 billion, representing an explosive growth of over 1,000% from the $132 million reported a year ago. 

The Ripple-Unloq pilot uses Unloq’s SC+ platform to combine trade obligations, payment rules, and financing workflows into a single automated system, while RLUSD on the XRP Ledger moves the funds. Fiona Murray, Managing Director for Asia Pacific at Ripple, stated,

“Built on the XRP Ledger, Unloq’s smart-contract-driven SC+ trade finance platform uses RLUSD to automatically trigger payments the moment the shipment is verified. This partnership combines Unloq’s supply chain expertise with Ripple’s secure technology to make global trade faster and more transparent.”

The platform is developing worldwide on-chain payment systems. Ripple partners with Mastercard through its Crypto Partner Program to enable digital asset integration into international payment systems, which handle cross-border transfers, B2B payments, and settlements.

Singapore Emerges as a Hub for Stablecoin Innovation

It is worth noting that Singapore is becoming a key hub for stablecoin innovation. The country’s approach balances support for financial technology with strict compliance rules. Recently as reported by Coingape,  Franklin Templeton selected XRPL for their tokenised markets and launched XRP ETF (XRPZ).  

Ripple’s Murray noted,

“Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive. Ripple is incredibly excited to be part of BLOOM, an initiative that perfectly aligns with our commitment to compliant, real-world utility for blockchain technology.”

By backing initiatives like this, Singapore is helping build trust among banks and financial institutions that are considering stablecoins for real-world, regulated use. Amid the global rise of stable tokens, the country is leading efforts to test real-world use cases.

Despite this major RLUSD development, the XRP token of Ripple is facing a significant downtrend. The XRP price is currently marked at $1.42, down by nearly 7% in a week.