MAS LAUNCHES BLOOM INITIATIVE TO EXTEND SETTLEMENT CAPABILITIES

Summary from the TLDR Crypto newsletter

Singapore's Monetary Authority has launched BLOOM (Borderless, Liquid, Open, Online, Multi-currency) to enable settlement in tokenized bank liabilities and regulated stablecoins while managing risks through standardized approaches, building on Project Orchid's foundation of 10+ successful trials since 2021 that explored digital Singapore dollar infrastructure and use cases. The initiative focuses on three areas: distribution and clearing of settlement assets to coordinate networks and enable seamless transfer of different settlement asset forms, programmable compliance controls using standardized mechanisms for more consistent and cost-effective cross-border wholesale arrangements, and agentic payments exploring AI agents executing transactions automatically within predefined limits to optimize timing and reduce manual payment management. Initial members include Circle, DBS, OCBC, Stripe, UOB, Ant International, StraitsX, Coinbase, and Partior.