BLOOM initiative expands as Bank Negara Malaysia and the Bank of Thailand join as policymaker members. They joined on Friday.
BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency. It is a public-private initiative. Specifically, it helps financial institutions use stablecoins and tokenized deposits. Those tools support cross-border payments.
Why the BLOOM initiative expands matters
The Monetary Authority of Singapore launched BLOOM in October 2025. It builds on Project Orchid, which began in 2021. Project Orchid explored uses for a digital Singapore dollar.
BLOOM aims to cut costs. It also helps institutions bring services to market faster. How? By reducing the need for arrangements with each counterparty or market.
BLOOM’s work covers corporate cash management and trade finance. It also covers payments executed by AI agents within predefined limits.
Malaysia and Thailand join BLOOM
Bank Negara Malaysia and the Bank of Thailand joined as policymaker members. Therefore, the initiative now includes more regional regulators.
BLOOM’s participants include Airwallex and Mastercard. Ripple, Visa, and the World Bank Group also participate.
Separately, Bank Negara Malaysia announced three initiatives in February. Those initiatives will test ringgit stablecoins and tokenized deposits. Testing covers domestic and cross-border wholesale payments in 2026.
Key takeaway
The BLOOM initiative expands with two new regulators. Its focus remains on stablecoins and tokenized deposits. Therefore, cross-border payments could become cheaper and faster. Malaysia and Thailand’s involvement strengthens regional cooperation.
