Malaysia, Thailand join Singapore’s cross-border stablecoin push
Summary
Malaysia’s central bank and the Bank of Thailand joined Singapore’s BLOOM initiative as policymaker members. The public-private project explores stablecoins and tokenized deposits for cross-border payments, aiming to lower costs and speed financial services by reducing the need for separate arrangements in each market. Launched by the Monetary Authority of Singapore in October 2025, BLOOM also covers corporate cash management, trade finance and AI-agent payments within set limits. Participants include Airwallex, Mastercard, Ripple, Visa and the World Bank Group. Malaysia is separately planning 2026 tests of ringgit stablecoins and tokenized deposits for wholesale payments.
