sg-crest A Singapore Government Agency Website

Schemes and Initiatives
 Published Date: 23 October 2026

BLOOM

BLOOM (Borderless, Liquid, Open, Online, Multi-currency) is a public-private sector collaborative initiative to advance next-generation settlement infrastructure for domestic and cross-border payments and financial transactions.

BLOOM builds upon the groundwork established through Project Orchid , which explored use cases for a digital Singapore dollar and the infrastructure required to support it. Insights from various trials have culminated in industry reports, and participating financial institutions have translated their learnings into market-ready commercial offerings.

BLOOM aims to strengthen the financial infrastructure capabilities of Singapore's financial centre. It will enable the use of settlement assets such as tokenised forms of commercial bank money and stablecoins that meet regulatory expectations.

By developing implementation frameworks and aligning commercial and operating arrangements, BLOOM seeks to reduce the need for financial institutions to establish separate arrangements with each counterparty or market. This can lower implementation costs and shorten time to market. Policymaker participation helps ensure that public policy and regulatory considerations are taken into account as these approaches are developed.

 

Objectives

Through BLOOM, MAS collaborates with the financial industry and international policymakers to address challenges and opportunities of common interest and encompasses the following:

  • Multiple currencies: Use of G10 and Asian currencies.
  • Domestic and cross-border payments: Cross-border payments and settlement. 
  • Wholesale use cases: Examples include corporate treasury management, trade finance and agentic payments. 


Focus Areas

BLOOM’s industry and policymaker participants are working together in these areas:

  • Acceptance and settlement across jurisdictions. This examines how financial institutions accept different forms of digital money for cross-border transactions, how counterparties contract with one another, and how transactions are ultimately settled across institutions and markets in different jurisdictions.
  • Interoperability across digital money arrangements. This focuses on how different digital money arrangements can operate across networks, infrastructures and borders, including the approaches needed to enable interoperability between systems.
  • Programmable controls. This includes safeguards such as identity verification, sanctions screening and transaction controls into digital money transactions.
  • Agentic payments. This will explore the use of AI agents that execute transactions within pre-defined limits and conditions with appropriate safeguards, reducing manual payments  management and optimising costs by timing transfers to when conditions are most favourable.

 

Expression of Interest
Entities can express their interest in this form .

  • Financial institutions, industry partners and fellow regulatory bodies that are keen to collaborate and advance BLOOM's objectives. 
  • Banks, financial institutions, clearing and settlement network operators that are keen to conduct trials under BLOOM, including the use of public blockchains.


Members

Industry Members

  • Airwallex
  • Anchorage Digital
  • Ant International
  • Circle
  • Coinbase
  • DBS
  • J.P. Morgan
  • Kasikornbank
  • Mastercard
  • Maybank
  • Monee
  • Nium
  • OCBC
  • Partior
  • Ripple
  • Schroders
  • ShopeePay
  • Standard Chartered
  • StraitsX
  • Stripe
  • Temasek
  • UOB
  • Visa
  • Xweave

Policymaker Members

  • Bank Negara Malaysia
  • Bank of Thailand
  • Monetary Authority of Singapore

Multilateral Development Banks

  • World Bank Group


Important Note

Members of the public should note that:

  • MAS and companies participating in MAS’ initiatives will not ask for your personal banking information, security login credentials or private keys to digital wallets.
  • MAS advises the public to be alert and wary of unsolicited calls or messaging which offer deals that seem too good to be true; request personal information; give instructions to transfer funds to a third party account or offer investments into projects.

If you encounter any suspected scams related to digital assets involving MAS, please DO NOT transfer any funds, and report  the matter to MAS.

For impersonation scams involving institutions regulated by MAS or phishing scams, please make a police report via the Police Hotline at 1800-255-0000, or submit it online at www.police.gov.sg/i-witness .