BNM, Bank of Thailand join Singapore-led BLOOM cross-border digital money initiative
The initiative will standardize acceptance, exchange and settlement rules for cross-border digital money, with central banks aiming to cut costs and speed adoption.
- On Friday, October 23, 2026, the Monetary Authority of Singapore announced that the central banks of Malaysia and Thailand joined its Bloom initiative as policymaker members to develop common cross-border digital money approaches.
- Singapore launched the Borderless, Liquid, Open, Online, Multi-currency initiative last year to foster coordination as financial institutions increasingly develop diverse digital money use cases including tokenized deposits and regulated stablecoins.
- Participants will focus on three key areas: cross-border acceptance and settlement, interoperability between networks, and programmable controls including identity verification and sanctions screening.
- While the October 23 announcement did not identify a launch date for a three-country settlement service, the agreement establishes frameworks for developing common digital money approaches across jurisdictions.
- Bank Negara Malaysia Deputy Governor Aznan bin Abdul Aziz and Bank of Thailand official Daranee Saeju stated the collaboration will inform their respective regulatory approaches to tokenized money, with further clarity expected by end of 2026.
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The New York Ledger
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BLOOM seeks to cut costs by helping financial institutions coordinate cross-border use of stablecoins and tokenized deposits. Bank Negara Malaysia and the Bank of Thailand joined Singapore’s BLOOM initiative on Friday as policymaker members. BLOOM, short for Borderless, Liquid, Open, Online, Multi-currency, is a public-private initiative that intends to help financial institutions use stablecoins and […]
BNM, Bank of Thailand join Singapore-led BLOOM cross-border digital money initiative
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BNM, Bank of Thailand join Singapore’s bloom cross-border digital money initiative
SINGAPORE: Bank Negara Malaysia (BNM) and Bank of Thailand (BOT) have joined the Borderless, Liquid, Open, Online, Multi-currency (BLOOM) initiative as policymaker members, said the Monetary Authority of Singapore (MAS) on Friday.
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