Malaysia and Thailand Join Singapore’s Stablecoin Push
By Damilola Esebame
AI summary of the source article
Bank Negara Malaysia and the Bank of Thailand have joined Singapore's BLOOM initiative as policymaker members. Launched by MAS, the public-private program tests cross-border settlement using stablecoins and tokenized deposits with industry participants.
Why it matters
MAS said BLOOM aims to "reduce costs by cutting the need for institutions to negotiate individual arrangements with every counterparty or market they want to reach," while standardized compliance checks "aim to compress both cost and settlement time by removing layers of intermediary verification."
Key facts
- Bank Negara Malaysia and the Bank of Thailand joined Singapore's BLOOM initiative to test cross-border settlement using digital money.
- The Monetary Authority of Singapore launched BLOOM in October 2025 targeting corporate treasury, trade finance, and AI-executed payments.
- New participants include Airwallex, Mastercard, Maybank, Monee, Nium, Ripple, ShopeePay, Visa, and the World Bank Group.
Source excerpt · FinanceFeeds
Bank Negara Malaysia and the Bank of Thailand have joined Singapore's BLOOM initiative as policymaker members, expanding the cross-border stablecoin payment program across three Southeast Asian economies. The initiative brings together regulators and industry participants to explore cross-border settlement using digital money. What BLOOM Does and Who Runs It BLOOM, short for Borderless, Liquid, Op…