NewsCord · 23 Oct, 11:29 · Finance briefing

Bank Negara Malaysia and Bank of Thailand Join Singapore’s BLOOM Cross-Border Stablecoin Payments Initiative

Bank Negara Malaysia and the Bank of Thailand have officially joined Singapore’s Monetary Authority in the BLOOM pilot programme.

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The briefing

The story
in brief.

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Bank Negara Malaysia and the Bank of Thailand have officially joined Singapore’s Monetary Authority in the BLOOM pilot programme. This collaborative initiative aims to facilitate cross-border payments using stablecoins, leveraging distributed ledger technology to enhance efficiency and reduce costs for international transactions. The project represents a significant step towards integrating digital assets into mainstream financial infrastructure within the Association of Southeast Asian Nations region, focusing on regulatory compliance and operational feasibility.

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Your move

What this means
for your career.

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This development signals a structural shift in regional finance, elevating the value of expertise in regulatory technology and blockchain infrastructure. Professionals in finance and compliance must now understand how distributed ledger technology interacts with central bank policies. You should prioritise upskilling in digital asset regulations and cross-border payment systems to remain relevant. Smart professionals will monitor how these pilots influence local banking operations and adjust their career focus accordingly. Consider specialising in the intersection of traditional banking and emerging fintech solutions. Engage with industry reports on stablecoin adoption to anticipate hiring trends in risk management and digital strategy roles within financial institutions across Southeast Asia.

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