Singapore, Malaysia, Thailand Join Forces To Expand Cross-border Digital Money Settlement

• Singapore, Malaysia, and Thailand are strengthening cross-border digital money settlement through the BLOOM initiative.
• MAS added Bank Negara Malaysia and the Bank of Thailand as policymaker members on October 23, 2026.
• Ripple, Visa, Mastercard, and the World Bank Group are among nine new industry participants joining BLOOM.

BLOOM Targets Faster, More Connected Digital Payments

BLOOM is about making different kinds of money work together. Like tokenized bank liabilities and regulated stablecoins. Across financial networks and between countries.

MAS said this project wants to match standards with local rules. It also aims to cut down the need for banks to set up settlement systems for every market and each partner they work with.

MAS announced that Bank Negara Malaysia and Bank of Thailand have joined the BLOOM (Borderless, Liquid, Open, Online, Multi-currency) initiative as policymaker members. https://t.co/pTEJRcUkWx

— MAS (@MAS_sg) October 23, 2026

The updated BLOOM initiative will focus on three things: getting digital money accepted and settled across borders, making different digital money systems talk to each other, and adding smart controls that include checking identities, screening for sanctions, and monitoring transactions right in the payment process.

These steps could make settlements faster. Connections stronger. How well they work will depend on how well regulations line up and how much the banks and institutions involved are willing to cooperate.

Ripple, Visa, & Mastercard Join Nine New Participants

MAS named Airwallex, Mastercard, Maybank, Monee, Nium, Ripple, ShopeePay, Visa, and the World Bank Group as the initiative’s nine new industry participants. They join existing members, including Circle, Coinbase, DBS, J.P. Morgan, Standard Chartered, Stripe, Temasek, and UOB.

The expanded membership brings together traditional financial institutions, payment providers, blockchain companies, and other technology firms to explore digital money applications in payments, treasury management, and trade finance.

Ripple’s participation adds another blockchain-focused company to the initiative, while Visa and Mastercard bring established payment network expertise.

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