SINGAPORE, Oct 23 — Bank Negara Malaysia (BNM) and Bank of Thailand (BOT) have joined the Borderless, Liquid, Open, Online, Multi-currency (BLOOM) initiative as policymaker members, said the Monetary Authority of Singapore (MAS) today.
MAS said that through the initiative, all three central banks will partner with industry players across their respective jurisdictions to develop common approaches for cross-border use of digital money.
It covers how different forms of digital money can be accepted, exchanged and settled across institutions, networks and jurisdictions.
“BLOOM is a public-private initiative that brings together policymakers, financial institutions, payment networks and technology providers to advance the use of digital money in cross-border financial activity,” the central bank said in a statement today.
