Central banks of Malaysia and Thailand join Singapore's BLOOM stablecoin initiative
Malaysia and Thailand central banks join MAS-led BLOOM project on cross-border payments using stablecoins and tokenized deposits, according to The Block.
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what happened
The central banks of Malaysia and Thailand have become members of BLOOM, an initiative led by Singapore's Monetary Authority (MAS). The project focuses on cross-border payments using stablecoins and tokenized deposits. On Friday, MAS confirmed that Bank Negara Malaysia and the Bank of Thailand joined as policymaker members, The Block reported.
Other participants include Ripple, Visa, Mastercard, the World Bank Group, Circle, Coinbase, JPMorgan, Standard Chartered and Stripe. BLOOM started in October last year. Ripple earlier said it would test trade payments using RLUSD on the XRP Ledger together with Unloq.
why it matters
For markets, this signals that Asian regulators are seriously studying stablecoins as a settlement tool between banks. The involvement of major payment networks and banks points to growing interest in tokenized money. For now these are tests, and the material gives no commercial launch dates.
market impact
XRP and stablecoins: growing regulatory interest in cross-border settlement may support sector sentiment
tags
instruments
sources
- Singapore, Malaysia and Thailand central banks expand cross-border stablecoin initiative involving Ripple, Visa and Mastercard — The Block, 23 October 2026 at 12:55 UTC
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