Singapore’s BLOOM Adds Malaysian and Thai Central Banks, but MAS Names No Token
By Unchained
AI summary of the source article
The central banks of Malaysia and Thailand have joined Singapore's BLOOM initiative as policymaker members. The program explores cross-border settlement for banks and payment firms using regulated stablecoins and tokenized deposits.
Why it matters
MAS stated that BLOOM aims to “reduce the need for financial institutions to establish separate arrangements with each counterparty or market.”
Key facts
- Bank Negara Malaysia and the Bank of Thailand joined the Monetary Authority of Singapore's BLOOM project as policymaker members.
- The program is designed to facilitate cross-border settlement for banks and payment firms using regulated stablecoins and tokenized deposits.
- New industry roster additions include Visa, Mastercard, Ripple, Nium, Airwallex, Maybank, ShopeePay, Monee, and the World Bank Group.
Source excerpt · Unchained
Mastercard, Airwallex and the World Bank Group are among the newcomers, though MAS's release leaves out any stablecoin, pilot or launch date. The post Singapore’s BLOOM Adds Malaysian and Thai Central Banks, but MAS Names No Token appeared first on Unchained .