Daily News

Digital banking goes cross-border: Singapore, Malaysia and Thailand advance digital money

MAS Expands BLOOM Across Southeast Asia

Hey Digital Banking Fanatic!

Cross-border payments in Southeast Asia are getting a new push. This time, the focus is on making different forms of digital money work together.

The central banks of Singapore, Malaysia and Thailand are joining BLOOM, an initiative to improve cross-border transactions using tokenised deposits and regulated stablecoins.

They’re joined by industry players including Airwallex, Mastercard, Visa, Ripple and Nium, working on interoperability, settlement and safeguards such as identity checks and sanctions screening.

What I find interesting is that the goal isn’t to put everyone on one system, but to connect different networks while respecting local rules. If successful, this could make cross-border payments simpler and cheaper for banks and businesses.

Here’s what else is happening in digital banking today👇

See you tomorrow!

Cheers,

Marcel

INSIGHTS

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NEWS

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