Singapore, Malaysia, Thailand to Expand BLOOM Digital Money Initiative
MT Newswires10-23 20:01
The Monetary Authority of Singapore, Bank Negara Malaysia and the Bank of Thailand will join forces with industry participants to develop common approaches for cross-border digital money use, following the two central banks' entry into the BLOOM initiative as policymaker members.
The initiative will focus on cross-border acceptance and settlement, interoperability between digital money arrangements, and programmable controls such as identity verification and sanctions screening, according to a Friday announcement.
Participants will explore applications involving tokenized deposits, regulated stablecoins and settlement across payment networks, it said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
