The Monetary Authority of Singapore (MAS) announced that Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) have joined the BLOOM initiative as policy-making institution members. The three central banks will collaborate with industry participants across their jurisdictions to establish a common framework for cross-border digital currency use, covering acceptance, exchange and settlement across different institutions, networks and jurisdictions. BLOOM (Borderless, Liquid, Open, Online, Multi-currency) is a public-private partnership advancing digital currency in cross-border financial activities, including tokenized deposits, regulated stablecoins and payment network settlement. New participants joining the initiative include Ripple, Visa, Mastercard, Maybank, Airwallex, Monee, Nium, ShopeePay and the World Bank Group.