Bank Negara Malaysia and the Bank of Thailand joined Singapore’s cross-border BLOOM initiative on Friday as policymaker members. Launched in October 2025 by the Monetary Authority of Singapore and built on Project Orchid, BLOOM aims to reduce costs and accelerate the rollout of cross-border payments using stablecoins and tokenized deposits. Its work also covers corporate cash management, trade finance, and payments executed by AI agents within predefined limits. Participants include Airwallex, Mastercard, Ripple, Visa, and the World Bank Group, while Bank Negara Malaysia separately announced three initiatives in February to test ringgit stablecoins and tokenized deposits for domestic and cross-border wholesale payments in 2026.
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