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Major Ripple (XRP) News in Asia: Can RLUSD Enhance Settlement Speeds? (Report)
Ripple continues to make moves across different markets, aiming to use its RLUSD stablecoin to accelerate its cross-border trade payments. According to a recent report, the company behind XRP has tapped supply chain fina…
Ripple continues to make moves across different markets, aiming to use its RLUSD stablecoin to accelerate its cross-border trade payments. According to a recent report, the company behind XRP has tapped supply chain finance firm Unloq to replace manual trade finance processes with its own version operating on the XRP Ledger.
Key takeaways
Quick scan — what you need to know:
- Ripple continues to make moves across different markets, aiming to use its RLUSD stablecoin to accelerate its cross-border trade payments.
- According to a recent report, the company behind XRP has tapped supply chain finance firm Unloq to replace manual trade finance processes with its own version operating on the XRP Ledger.
- BLOOM Participation Citing a note sent by Ripple, the report informs that the firm wants to test whether RLUSD can replace the manual payment processes that have “slowed cross-border trade for…
- BLOOM is an initiative developed by the Monetary Authority of Singapore to extend settlement capabilities for tokenized bank liabilities and regulated stablecoins.
Background
What led here, in plain terms:
- Ripple’s partner on the matter will be Unloq to pilot a system where cross-border trade payments using the former’s stablecoin are “released automatically when predefined…
- Both entities asserted that current trade finance is “built on layers of manual verification, documentary credits, and correspondent banking relationships that can take days or weeks to…
- RLUSD will operate the actual money movement on the XRP Ledger.
- Build On Australian Expansion The announcement above aligns to an extent with a previous statement from the company, which was focused on the Australian market.
Why it matters
Why readers and decision-makers should care:
- If completed, it would allow Ripple to operate a licensed platform for moving funds worldwide.
- The post Major Ripple (XRP) News in Asia: Can RLUSD Enhance Settlement Speeds?
- (Report) appeared first on CryptoPotato.