Three Central Banks Join a 25-Institution Push for Cross-Border Stablecoin Settlement the FSB Flags as Risky

Twenty-five industry participants. Three central banks. Two stablecoins holding $254.1 billion between them. Those are the numbers behind the cross-border digital-money push the Monetary Authority of Singapore (MAS) assembled this week — and they are also the numbers that explain why the same plumbing keeps drawing warnings from global regulators. On 23 October, MAS confirmed that Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) joined its BLOOM initiative as policymaker members, and that nine more firms signed on, according to the central bank’s announcement .