Singapore
ABMedia
Malaysia and Thailand central banks join Singapore's Project BLOOM to advance cross-border digital currency settlement
- Eight new industry members joined BLOOM — Airwallex, Mastercard, Maybank, Monee, Nium, Ripple, ShopeePay, and Visa — along with the World Bank Group as a multilateral development bank participant, bringing total industry membership to 24 firms alongside Anchorage Digital, Ant International, Circle, Coinbase, DBS Bank, JPMorgan, Kasikornbank, OCBC, Partior, Schroders, Standard Chartered, StraitsX, Stripe, Temasek, UOB, and Xweave.
- Participants will focus on three areas: cross-jurisdictional acceptance and settlement of digital currencies in cross-border transactions, interoperability between different digital currency arrangements across networks and infrastructures, and programmable controls such as identity verification, sanctions screening, and transaction controls.
- MAS Deputy Managing Director (Markets and Development) Leong Sing Chiong, Bank Negara Malaysia Deputy Governor Aznan bin Abdul Aziz, and Bank of Thailand Deputy Governor Daranee Saeju all stated that frictionless cross-border payments using multiple digital currencies are moving from a distant vision toward concrete reality, supported by forward-looking yet prudent regulatory approaches.