Asia's weekly TOP10 crypto news: South Korea Regulates Stablecoins as Payment Means, China to Build National Blockchain Network, HSBC Launches Stablecoin and Top10 News

1. Malaysian and Thai Central Banks Join Singapore’s BLOOM Initiative for Cross-Border Stablecoin Settlement link The Monetary Authority of Singapore (MAS) announced on October 23 that Bank Negara Malaysia and the Bank of Thailand have officially joined the BLOOM cross-border digital currency initiative to jointly advance cross-border payment and settlement for digital currencies such as regulated stablecoins and tokenized deposits. The initiative has added new participants including Ripple, Visa, Mastercard, Airwallex and the World Bank Group. It focuses on researching cross-border settlement, interoperability of different payment networks and programmable compliance controls, aiming to cut cross-border transaction costs for financial institutions.