Malaysia and Thailand Central Banks Join Singapore’s BLOOM as Roster Hits 24 Firms

Maybank, one of nine new BLOOM participants, already runs one of Bank Negara Malaysia's three ringgit stablecoin and tokenized deposit pilots, while Thailand's Kasikornbank was in the group before the Bank of Thailand. Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) joined BLOOM, Singapore’s cross-border settlement initiative for stablecoins and tokenized deposits, on Friday. The Monetary Authority of Singapore (MAS) announced the move. It launched BLOOM in October 2025 as a public-private group of banks, payment networks and tech firms. The two central banks now sit beside MAS as policymaker members. Together, they will work with industry on how different forms of digital money are accepted, exchanged and settled across borders. Home Banks Already on the Roster MAS also added nine participants, including Mastercard, Visa, and Ripple. In March, Ripple said it would test RLUSD for trade finance payments with Unloq inside BLOOM. Mastercard, for its part, already settles merchant transactions in stablecoins such as RLUSD and USDC. Outside payments, the new names include the World Bank Group, which MAS said will bring the needs of developing economies to the table. Each new c...