(24 August 2026 – Singapore) The Monetary Authority of Singapore (MAS) is leading a new BLOOM (Borderless, Liquid, Open, Online, Multi-currency) initiative designed to extend settlement capabilities offered by financial institutions.
The initiative brings together industry participants to address how financial institutions can benefit from faster, more programmable forms of payment without sacrificing the safeguards that underpin trust in the financial system.
Visa has announced its participation in the BLOOM initiative that seeks to enable interoperability between traditional payment systems and stablecoin-based payment rails.
Nium is Visa’s first partner to pilot the use of stablecoins for settlement under BLOOM, exploring new cross border money movement methods more efficiently while continuing to leverage Visa’s trusted payment network, security, and compliance capabilities.
Payment settlements typically take place over business days currently however through this pilot both organisations are exploring how stablecoins can enable settlements to occur seven days a week, including weekends and public holidays.
“The future of payments will be shaped by how different forms of money and payment networks work together for different use cases. Through BLOOM and our pilot with Nium in Singapore, we are exploring how stablecoins can complement existing payment infrastructure, enabling greater flexibility in settlement while preserving the security, resilience and compliance standards that underpin global commerce. As digital payments continue to evolve, interoperability will be critical to delivering meaningful value across the financial ecosystem” commented Visa Group Country Manager for Regional Southeast Asia and SVP, Global Clients & Acquirers, Asia Pacific, Adeline Kim.
“This pilot with Visa under BLOOM is a meaningful step in our partnership to shape the next phase of payments in the region. We’re building foundational infrastructure for seamless interoperability between traditional and stablecoin-based rails. This convergence is not only inevitable, it’s essential. By bringing together the security and trust of established payment networks with the efficiency and programmability of digital currencies, we unlock real value for financial institutions and their customers. BLOOM demonstrates that innovation and compliance advance together” stated Nium Chief Risk and Compliance Officer, Amaresh Mohan.
Global stablecoin card spending is expected to quadruple to US$50 billion a year by 2028 according to stablecoin payments company RedotPay. The Hong Kong-based firm based its projection on stablecoin card spend surpassing US$1 billion in July, marking a record month, based on data from crypto payment card analytics company Paymentscan.