PANews reported on October 16th that the Monetary Authority of Singapore (MAS) announced today the launch of a new initiative, BLOOM (Boundless, Liquid, Open, Online, Multi-Currency), aimed at expanding the settlement capabilities offered by financial institutions. Through BLOOM, MAS will collaborate with the financial industry to enable settlement in tokenized bank liabilities and strictly regulated stablecoins, while also effectively managing risks in the rapidly evolving field of digital settlement assets through standardized approaches. BLOOM will cover multiple G10 and Asian currencies, supporting domestic and cross-border settlements, with application scenarios including corporate treasury management, trade financing, and intelligent agent payments. Initial participants include Circle, Coinbase, DBS, OCBC, UOB, Partior, Stripe, Ant International, and StraitsX.PANews reported on October 16th that the Monetary Authority of Singapore (MAS) announced today the launch of a new initiative, BLOOM (Boundless, Liquid, Open, Online, Multi-Currency), aimed at expanding the settlement capabilities offered by financial institutions. Through BLOOM, MAS will collaborate with the financial industry to enable settlement in tokenized bank liabilities and strictly regulated stablecoins, while also effectively managing risks in the rapidly evolving field of digital settlement assets through standardized approaches. BLOOM will cover multiple G10 and Asian currencies, supporting domestic and cross-border settlements, with application scenarios including corporate treasury management, trade financing, and intelligent agent payments. Initial participants include Circle, Coinbase, DBS, OCBC, UOB, Partior, Stripe, Ant International, and StraitsX.
The Monetary Authority of Singapore launched the BLOOM project to expand the settlement capabilities of financial institutions through stablecoins and other means.
PANews reported on October 16th that the Monetary Authority of Singapore (MAS) announced today the launch of a new initiative, BLOOM (Boundless, Liquid, Open, Online, Multi-Currency), aimed at expanding the settlement capabilities offered by financial institutions. Through BLOOM, MAS will collaborate with the financial industry to enable settlement in tokenized bank liabilities and strictly regulated stablecoins, while also effectively managing risks in the rapidly evolving field of digital settlement assets through standardized approaches. BLOOM will cover multiple G10 and Asian currencies, supporting domestic and cross-border settlements, with application scenarios including corporate treasury management, trade financing, and intelligent agent payments. Initial participants include Circle, Coinbase, DBS, OCBC, UOB, Partior, Stripe, Ant International, and StraitsX.
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