Malaysia and Thailand join Singapore’s BLOOM initiative for stablecoins

Bank Negara Malaysia and the Bank of Thailand sign on as policymaker members of the MAS-led push to standardize cross-border stablecoin and tokenized deposit settlement Singapore’s plan to make stablecoins useful for cross-border payments just picked up two important neighbors. Bank Negara Malaysia and the Bank of Thailand joined the BLOOM initiative on Friday as policymaker members. Behind the branding sits a public-private initiative led by the Monetary Authority of Singapore (MAS). Its goal is to help financial institutions use stablecoins and tokenized deposits when moving money across borders.