MAS launches BLOOM to settle tokenized debt and stablecoins

On 16 October 2025, the Monetary Authority of Singapore announced BLOOM. This program increases the payment capabilities of financial institutions. Concentrating on tokenized bank debt and managed stablecoins. MAS collaborates with industry partners on a standards basis. This project addresses operational and financial risks. BLOOM handles G10 and major Asian currencies. This project is aimed at domestic and cross-border settlement. It also improves the efficiency of trading processes for businesses and institutions. MAS also marks BLOOM as one of the milestones in fintech leadership in Singapore.

Mr Wu said he learned that the Monetary Authority of Singapore (MAS) today announced the launch of a new program called ‘BLOOM’ aimed at expanding payment capacity for financial institutions. The initiative works with industry to facilitate the settlement of tokenized bank debt and regulated stablecoins within a standardized framework and effectively manage associated risks. BLOOM covers G10…

— Wu Shuo Blockchain (@wublockchain12) October 16, 2025

Main participants

BLOOM includes fintechs, crypto companies, and banks. Circle provides the infrastructure for the USDC stablecoin. Coinbase handles storage and institutional access. Singapore banks DBS, OCBC and UOB will be added. Partition provides blockchain multi-bank rails. The combination of actors will integrate traditional and online finance. Network interoperability and security are provided through collaboration.

technical design

BLOOM decentralizes bank deposits and debts on a permissioned blockchain. Stablecoins act as payment rails. This system will be combined with current banking infrastructure. MAS imposes AML and KYC regulations on participants. Stress testing and operational resilience checks are mandatory. It will reduce delays in settlements and transaction frictions. Businesses will automate their finance functions. Trade finance will be more transparent and faster.

Businesses pay cross-border invoices immediately. Small banks will have access to international payment rails. Tokenization increases the efficiency and transparency of payments. The project will also facilitate regulatory reporting and audit compliance. Strengthen risk monitoring of multi-currency transactions. The two companies will engage in expedited end-to-end clearing and reconciliation.

Risk monitoring and management.

MAS provides sound protection for all participants. High standards are required for the custody and safety of participants. Cross-border regulatory coordination will be implemented. MAS requires participants to comply with a stress testing regime. Risk management measures reduce the possible overall shock. Money laundering and fraud are blocked through our compliance framework. The program is financially stable and innovative.

BLOOM is based on MAS’ project Ubin and previous tokenization pilots. Stablecoins and tokenized payments are gaining interest at a global level in 2023 and beyond. MAS is aligned with BLOOM, BIS Bridge, and ASEAN cross-border programs. The concept of tokenization solves the inefficiencies of traditional correspondent banking. Businesses have a growing need to speed up cross-border payments. The use of stablecoins in Asia is becoming increasingly rapid. Singapore has a goal of deepening its role as a fintech center. BLOOM also supports a smart payment environment in the region. The project leverages the existing and fast-growing cryptocurrencies and digital finance. This is an indicator of MAS’s well-monitored innovation efforts.

Benefits and challenges

BLOOM had the potential to reduce the payment period to just a few seconds. Reduce cross-border transaction costs. It brings efficiency and transparency to businesses and banks. Small financial institutions have access to tokenized rails. There are other issues, such as legal coordination across jurisdictions. Participants must be prepared at a regulatory and operational level. Implementation will be based on phased pilot results and regulatory approvals.

BLOOM was launched by MAS to modernize payments, including tokenized bank debt and managed stablecoins. The program includes major banks, fintechs, and crypto companies. We handle Asian currencies and G10. BLOOM is responsible for corporate finance, trade and smart payments. This system increases efficiency, transparency, and risk management. MAS has made Singapore one of the top fintech hubs. Implementation and full rollout will be based on phased pilots. BLOOM combines innovation and sound judgment in the field of financial technology.