The Monetary Authority of Singapore (MAS) said on the 23rd that Bank Negara Malaysia and the Bank of Thailand have formally joined the BLOOM cross-border digital currency cooperation initiative. The three central banks will work with industry to make cross-border transfers faster and more convenient. Cooperation will focus on: studying cross-border acceptance and settlement of digital currencies; promoting interoperability between national payment systems; and strengthening identity verification

The Monetary Authority of Singapore (MAS) said on the 23rd that Bank Negara Malaysia and the Bank of Thailand have formally joined the BLOOM cross-border digital currency cooperation initiative. The three central banks will work with industry to make cross-border transfers faster and more convenient. Cooperation will focus on: studying cross-border acceptance and settlement of digital currencies; promoting interoperability between national payment systems; and strengthening identity verification, transaction screening and risk management to secure cross-border transactions. Participant list has expanded to include Mastercard, Visa, Ripple, MAYBANK, Airwallex, Monee, Nium, ShopeePay and the World Bank Group (WBG).