The Monetary Authority of Singapore said on October 23 that Bank Negara Malaysia, Malaysia’s central bank, and the Bank of Thailand had joined BLOOM as policymaker members.

The Singapore-led public-private initiative aims to develop common approaches for using digital money in cross-border settlement.

MAS said BLOOM had also added new participants, including Airwallex, an Australia-based payments and financial platform, Visa, and the World Bank Group.

The initiative will focus on cross-border acceptance and settlement, interoperability between digital money systems, and programmable controls such as identity verification and sanctions screening.

🔗 Source: SG Press Centre