Singapore is accelerating its digital finance ambitions through a new initiative called BLOOM — short for Borderless, Liquid, Open, Online, Multi-currency.
Monetary Authority of Singapore (MAS) announced that BLOOM is designed to expand settlement capabilities using tokenized bank liabilities and regulated stablecoins.
The framework aims to strengthen cross-border payment systems, promote digital settlement assets, and create a standardised model for tokenized finance.
Building on the success of Project Orchid, BLOOM seeks to bridge digital innovation with global financial stability while addressing regulatory and operational risks.
MAS expands focus on tokenized finance
BLOOM marks a major step forward from Project Orchid, which began in 2021 to explore the feasibility of a digital Singapore dollar.
Insights from over ten successful industry trials under Orchid have now evolved into BLOOM’s market-ready model.
The initiative will integrate tokenized assets such as stablecoins and bank-issued digital money into existing financial systems to make settlement more efficient, secure, and transparent.
MAS said BLOOM will strengthen both domestic and international payment networks.
By facilitating the use of G10 and Asian currencies, it aims to develop a more inclusive digital finance ecosystem that can support corporate treasury operations, trade finance, and agentic payments — sectors where transaction efficiency remains a key challenge.
BLOOM is also expected to encourage interoperability between private-sector blockchains and centralised systems, creating a unified financial framework that can adapt to future innovations.
Industry collaboration to enhance digital settlement
In line with Singapore’s strategy of industry collaboration, BLOOM will work with several leading financial and technology partners.
These include Circle, DBS, OCBC, Partior, Stripe, and UOB.
Together, they will develop interoperable solutions that simplify compliance checks, reduce costs, and improve transaction transparency across borders.
MAS noted that BLOOM complements its other initiatives, including Project Guardian — focused on asset tokenization and decentralised finance — and Global Layer One, which seeks to establish cross-border payment standards.
BLOOM will act as a unifying layer connecting these efforts to create a stronger foundation for tokenized settlement systems in regulated environments.
Strengthening Singapore’s digital asset infrastructure
The launch of BLOOM coincides with MAS’s broader efforts to position Singapore as a leader in digital asset regulation and innovation.
While the central bank recently delayed the adoption of the Basel Committee’s crypto regulations from 2026 to 2027, it remains focused on ensuring financial stability amid rapid technological change.
By supporting the regulated use of stablecoins and tokenized assets, BLOOM helps financial institutions and payment providers adopt digital finance solutions without compromising compliance or security.
It also underscores Singapore’s goal of becoming a trusted hub for tokenized finance — balancing innovation with oversight to enable cross-border connectivity in the evolving digital economy.
With initiatives like BLOOM, the city-state continues to strengthen its role as Asia’s gateway for digital finance transformation.
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