The Monetary Authority of Singapore (MAS) announced the launch of BLOOM on October 16, 2025, a comprehensive program designed to scale the adoption of tokenized bank liabilities and regulated stablecoins in global and domestic settlement systems. BLOOM, which stands for Borderless, Liquid, Open, Online, Multi-currency, builds on insights from over 10 industry experiments under Project Orchid, initiated in 2021, and transitions from foundational research to practical financial solutions.
Key strategic goals include enhancing cross-border and domestic payments, supporting transactions in G10 and key Asian currencies, and addressing wholesale use cases such as corporate treasury management, trade finance, and agentic payments. This initiative aims to streamline international settlements, reduce transaction costs, and automate compliance checks, fostering a more efficient and flexible financial ecosystem.
MAS is collaborating with prominent industry players including Circle, DBS, OCBC, Partior, Stripe, and UOB to drive implementation. Kenneth Gay, MAS Chief FinTech Officer, emphasized that BLOOM expands settlement asset options and complements existing efforts like Project Guardian and Global Layer One, strengthening digital asset capabilities for major financial institutions.
The launch follows MAS's decision to delay the Basel Committee's crypto regulations to 2027, providing additional time for market adaptation. This move reinforces Singapore's position as a leader in digital financial transformation, paving the way for faster, safer, and more interconnected digital asset infrastructure.
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