Singapore, Malaysia, and Thailand's central banks join forces to promote cross-border digital currency settlement, with Ripple, Visa, and others participating in the BLOOM program The Monetary Authority of Singapore (MAS) announced that Bank Negara Malaysia (BNM) and Bank of Thailand (BOT) have joined the BLOOM (Borderless, Liquid, Open, Online, Multi Currency) program as members of policy-making bodies. The three parties will collaborate with industry participants in their respective jurisdictions to promote the establishment of a universal framework for the use of cross-border digital currencies, covering the reception, exchange, and settlement of different forms of digital currencies between different institutions, networks, and jurisdictions. BLOOM is a public-private partnership aimed at promoting the application of digital currencies in cross-border financial activities, involving scenarios such as tokenized deposits, regulated stablecoins, and cross payment network settlements.