The BLOOM initiative establishes common frameworks to connect token networks and settle cross-border transactions in regulated stablecoins and tokenized deposits without separate bilateral counterpart agreements.

From the articleSingapore, Malaysia and Thailand team up to make stablecoin payments easierAlso in Malaysia, Thailand Join Singapore’s Cross-Border Payment Push - Blockonomi, 3 Asian Central Banks Unite to Connect Stablecoins Across Borders, Singapore, Malaysia and Thailand central banks expand cross-border stablecoin initiative involving Ripple, Visa and Mastercard, Singapore's BLOOM Adds Malaysian and Thai Central Banks, but MAS Names No Token - Unchained, Malaysia, Thailand Central Banks Join Singapore’s BLOOM Cross-Border Stablecoin Payments Initiative