Singapore’s central bank pilots XRP Ledger for cross-border trade
Amid the ongoing war in Iran, XRP Ledger settlements are already starting on a central bank-backed program.
The XRP Ledger (XRPL) and the Ripple USD stablecoin are joining a central bank-backed initiative alongside the world’s financial giants to settle international trade.
The central bank just invited Ripple into its flagship initiative, and XRPL will host USD proxy settlements on-chain with XRP-burning transactions.
In short, Ripple announced today that its supply chain finance technology provider partnership is working with the central bank of Singapore to use XRPL to complete cross-border trade settlements.
Market Context
Ripple has joined the Monetary Authority of Singapore’s Borderless, Liquid, Open, Online, Multicurrency initiative which already counts major global banks, payment giants, and fintech firms among its members.
Here’s how it works. The system settles in RLUSD which are released once a shipment is verified.
No manual approvals or waiting days for correspondent banks to clear funds. Ripple integrates trade obligations, settlement conditions, and financing workflows into a single execution layer, all running on XRPL infrastructure.
This is programmable money in action. Payments only move when predefined commercial conditions are met, reducing counterparty risk and giving small and medium-sized businesses better access to trade financing.
Fiona Murray, Ripple’s Managing Director for Asia Pacific, said the pilot “combines supply chain expertise with Ripple’s secure technology to make global trade faster and more transparent.”
She emphasized that the solution is built on the XRP Ledger, with RLUSD triggering payments “the moment the shipment is verified.”
News
CFTC forms crypto, AI and prediction market task force (Cftc.gov)
Tether claims a Big Four accounting firm has an audit underway (Tether)
BitGo and Susquehana launch OTC prediction market (Businesswire)
Ledger completed $50M secondary sales (Bloomberg)
Ripple joins settlement Singapore pilot (Ripple)
Mastercard $MA, Western Union $WU and Worldpay to leverage Solana tokenization platform (CoinDesk)
Circle $CRCL expands USDC across Africa (Businesswire)
NYSE moves toward tokenized securities with Securitize (TheIce)
Binance asks for partnership disclosures from token issuers (Coindesk)
Nothing in this newsletter is financial or investment advice. We summarize news for informational and entertainment purposes only. We do not provide advisory services, guidance, or information regarding trading or investing. Past performance is not indicative of future results.
XRP Premium Analysis
Obviously, the central bank of Singapore doesn’t let just anyone into its program. The existing member list reads like a who’s who of global finance and payments infrastructure, including major Southeast Asian banks, leading stablecoin issuers, global payment processors, and institutional fintechs.
Markets, however, are totally ignoring this partnership and are currently pricing XRP mostly in response to the Iran war and their, in my view, mistaken impression that it is de‑escalating.
Oil has dropped sharply from a spike near about $120 per barrel to around $90 in roughly nine days, which is probably overly optimistic given Iran’s maximalist demands.
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