Singapore, Malaysia and Thailand central banks expand cross-border stablecoin initiative involving Ripple, Visa and Mastercard

The BLOOM initiative, previously led by Singapore, now encompasses Malaysia and Thailand's central banks in a collaborative effort to develop cross-border payment solutions using stablecoins and tokenized deposits.

Regional Collaboration

The expanded partnership involves major financial technology companies including Ripple, Visa, and Mastercard, signaling a significant step toward modernizing cross-border transactions in Southeast Asia.