25 BLOOM Participants Join 3 Asian Central Banks to Advance Cross-Border Digital Money

Three central banks from the Southeast Asian region are sharing efforts to work together on digital money, and both traditional finance and the crypto industry are joining forces to enhance cross-border transactions. Singapore’s Monetary Authority of Singapore (MAS) announced on October 23 that Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) had joined its BLOOM initiative as policymaker members. BLOOM is Borderless, Liquid, Open, Online and Multi-currency. The public-private effort aims to align thinking by regulators, financial institutions, payment networks, and technology providers about interborder digital money.