The Monetary Authority of Singapore launched the BLOOM initiative on October 16, 2025. The project aims to standardize cross-border settlements using regulated stablecoins and tokenized bank deposits.
Bank Negara Malaysia and the Bank of Thailand joined the initiative as policymaker members on October 23, 2026. These central banks will participate in shaping regulatory standards for digital money.
The initiative focuses on wholesale operations, including trade finance and corporate treasury. Participants include Circle, DBS, Stripe, and the World Bank Group.
BLOOM seeks to reduce coordination costs by aligning regulatory frameworks. Key technical areas include programmable compliance controls, such as automated sanctions screening and transaction limits.
The project builds upon the earlier Project Orchid, which began testing digital Singapore dollar use cases in 2021. BLOOM expands this scope to include private stablecoins and tokenized liabilities.
