Singapore's BLOOM just went regional, and I think that matters more than another stablecoin launch.
On Oct 23, MAS announced that Bank Negara Malaysia and the Bank of Thailand joined BLOOM as policymaker members. New industry participants include Ripple, Visa, Mastercard, Airwallex, Maybank, ShopeePay and the World Bank Group, alongside existing members like Circle, Coinbase, J.P. Morgan, DBS, Standard Chartered and Stripe.
The focus is not a new coin. It's plumbing: how tokenised deposits and regulated stablecoins get accepted and settled across borders, how different systems interoperate, and how programmable controls like identity checks and sanctions screening are built in.
My take: three neighbouring central banks agreeing on common rules is what turns stablecoins from a trading tool into real payment rails. Corridors like Singapore-Malaysia move huge remittance flows, and lower setup costs per counterparty could speed adoption a lot.
For $XRP holders, Ripple's seat at the table is a positive signal, but participation is not the same as volume. XRP has been hovering around $1.30, and I'd want to see actual settlement usage before pricing in a narrative. The bigger winners may simply be compliant stablecoins like $USDC.
Do you think regional regulator alliances will beat single-country stablecoin rules?
#Stablecoins #XRP #CrossBorderPayments #Tokenization
Not financial advice.
On Oct 23, MAS announced that Bank Negara Malaysia and the Bank of Thailand joined BLOOM as policymaker members. New industry participants include Ripple, Visa, Mastercard, Airwallex, Maybank, ShopeePay and the World Bank Group, alongside existing members like Circle, Coinbase, J.P. Morgan, DBS, Standard Chartered and Stripe.
The focus is not a new coin. It's plumbing: how tokenised deposits and regulated stablecoins get accepted and settled across borders, how different systems interoperate, and how programmable controls like identity checks and sanctions screening are built in.
My take: three neighbouring central banks agreeing on common rules is what turns stablecoins from a trading tool into real payment rails. Corridors like Singapore-Malaysia move huge remittance flows, and lower setup costs per counterparty could speed adoption a lot.
For $XRP holders, Ripple's seat at the table is a positive signal, but participation is not the same as volume. XRP has been hovering around $1.30, and I'd want to see actual settlement usage before pricing in a narrative. The bigger winners may simply be compliant stablecoins like $USDC.
Do you think regional regulator alliances will beat single-country stablecoin rules?
#Stablecoins #XRP #CrossBorderPayments #Tokenization
Not financial advice.