Maybank Singapore has joined the central bank’s BLOOM initiative to advance programmable cross-border settlement.
Launched in October 2025, BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency.
It builds on Project Orchid, which explored use cases for a digital Singapore dollar and the infrastructure needed to support it.
The initiative explores cross-border settlement using tokenised bank liabilities and regulated stablecoins.
Participants include Anchorage Digital, Ant International, Circle, Coinbase, DBS, J.P. Morgan, Kasikorn Bank, OCBC, Partior, Schroders, Standard Chartered, StraitsX, Stripe, Temasek, UOB and Xweave.
Maybank will work with Monetary Authority of Singapore (MAS) and other industry participants on common standards and infrastructure for tokenised and programmable payments.
Its participation follows several tokenisation projects in ASEAN.
Maybank was involved in the inaugural tokenised sukuk issuance by Malaysian sovereign wealth fund Khazanah Nasional Berhad.
The bank also completed an on-chain Malaysian ringgit to Singapore dollar foreign exchange conversion and real-time cross-border payment for Yinson Holdings Berhad under Bank Negara Malaysia’s Digital Asset Innovation Hub.
Alvin Lee, Country CEO and CEO of Maybank Singapore, said,
“Through BLOOM, Maybank aims to help shape the common standards and infrastructure principles needed to enable the future of digital finance in Singapore, in collaboration with MAS and industry participants including fintech players.
This aligns with ROAR30, our five-year strategic plan to deliver values-based offerings, making banking more efficient and accessible especially for small and medium enterprises (SMEs).”
Maybank plans to invest RM10 billion, or about S$3.2 billion, over five years in technology, data and AI under its ROAR30 strategy, with tokenisation forming part of that investment.
Other entities interested in participating can register their interest with MAS here.
Featured image: Edited by Fintech News Singapore, based on image by MAS
