Maybank Singapore has joined the Monetary Authority of Singapore’s (MAS) BLOOM initiative, BLOOM—short for Borderless, Liquid, Open, Online, Multi-currency—is an industry-led initiative designed to enhance cross-border settlement through the use of tokenised bank liabilities and regulated stablecoins. The platform aims to create a more interoperable and efficient financial ecosystem by enabling faster and more seamless cross-border transactions.
Maybank said its participation reinforces the bank’s commitment to helping shape the future of digital financial infrastructure in collaboration with MAS and industry stakeholders, including fintech companies.
The latest development builds on a series of tokenisation achievements by Maybank across the region. These include serving as an anchor participant in the inaugural tokenised sukuk issuance by Khazanah Nasional Berhad, as well as completing the first on-chain Malaysian Ringgit–Singapore Dollar foreign exchange conversion and real-time cross-border payment for Yinson Holdings Berhad under Bank Negara Malaysia’s Digital Asset Innovation Hub.
Maybank Singapore Country CEO and CEO Alvin Lee said the bank aims to contribute to developing common standards and infrastructure that will underpin the next generation of digital finance.
“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,” he said.
Lee added that the initiative aligns with Maybank’s five-year strategic roadmap, ROAR30, which focuses on delivering values-based financial solutions while making banking more efficient and accessible, particularly for small and medium enterprises (SMEs).
The bank’s growing investments in tokenisation form part of its broader ROAR30 strategy, under which Maybank has committed to invest RM10 billion (approximately SGD3.2 billion) over five years in technology, data and artificial intelligence (AI).
The investment programme is intended to strengthen the group’s digital capabilities, accelerate innovation and enhance customer experiences across its regional operations.
The adoption of tokenised assets and regulated digital settlement mechanisms is increasingly viewed as a key step toward modernising cross-border payments, reducing settlement times and improving transaction efficiency for businesses operating across multiple jurisdictions.
Maybank’s participation in BLOOM also reflects the growing collaboration between regulators, financial institutions and fintech firms in developing secure and interoperable digital payment infrastructure as ASEAN’s digital economy continues to expand.
