TLDR
- Ripple is seeking a āFull Master Accountā with the Federal Reserve.
- The account could let Ripple settle RLUSD directly on FedNow rails.
- Ripple and Unloq are testing RLUSD trade settlement under Project BLOOM.
- The pilot uses XRP Ledger for transaction flows and SC+ for workflow execution.
- RLUSD remains in a sandboxed test setting, not a broad approval.
Ripple is pursuing a reported Federal Reserve master account that could let it settle RLUSD directly through FedNow while holding reserves at the Fed. At the same time, its Singapore pilot under Project BLOOM is testing RLUSD on XRP Ledger for automated cross-border trade payments tied to real business conditions.
Ripple eyes Fed master account as RLUSD plans widen
Ripple is seeking a āFull Master Accountā with the Federal Reserve, based on the claims shared around the project. If approved, the account could let Ripple hold RLUSD reserves at the Fed and settle through FedNow rails directly in house.
That Fed angle comes as Ripple also expands work in Singapore. The company is part of a pilot under the Monetary Authority of Singaporeās Project BLOOM, which tests tokenized finance and digital settlement models.
š£ $XRP: Ripple is searching for a "Full Master Account" with the FED, which would allow Ripple to tap directly into FedNow's Rails for settlement while holding $RLUSD directly at the Federal Reserve š https://t.co/SgZhv7mrLA pic.twitter.com/9CSZgU8LHw
— š¬š§ ChartNerd š (@ChartNerdTA) April 22, 2026
The Singapore work centers on cross-border trade settlement. It combines RLUSD as the payment asset, XRP Ledger as the transaction layer, and Unloqās SC+ platform for trade finance execution.
Singapore pilot tests conditional trade settlement
Project BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency. It brings together banks, fintech firms, and stablecoin providers to test how digital assets fit into current financial systems.
Ripple and Unloq are using the pilot to automate trade payments. In this setup, funds are released only when agreed conditions are met. These conditions can include shipment confirmation, document checks, or financing events.
That means RLUSD is being tested as more than a payment token. It is part of a system that connects payment and workflow rules in the same process. XRP Ledger supports the movement of value, while SC+ handles the trade steps.
Ripple executive Eric Van Miltenburg has pointed to Singaporeās āregulatory clarityā as a key factor in the region. Ripple has also secured a Major Payments Institution license through MAS for payment services.
RLUSD remains in test phase despite broader attention
Rippleās role in the Singapore pilot does not amount to broad regulatory approval for RLUSD. The stablecoin is still being tested in a sandboxed setting tied to a defined use case.
That matters because the current work is limited in scope. The pilot is designed to examine technical performance and process design, not to confirm full market rollout across jurisdictions.
At the same time, the Fed account discussion has drawn attention because it connects stablecoin reserves with direct central bank access. If such access were granted, Ripple could manage RLUSD settlement more directly instead of relying on outside banking layers.
SoFi listing debate turns on access versus utility
The discussion has also spread to SoFiās XRP offering. Some market participants argue that limited withdrawal options reduce direct network use because users only gain price exposure inside a bank platform.
Others view the listing as a basic access point for retail users. From that view, support for XRP alongside BTC, ETH, and SOL may widen exposure through a familiar financial app.
Still, the central news angle remains Rippleās effort to link RLUSD more closely with regulated payment rails. The Singapore pilot and the reported Fed account goal both show a focus on settlement infrastructure rather than price-driven narratives
