Visa said it will participate in BLOOM, a Borderless, Liquid, Open, Online, Multi-currency initiative led by the Monetary Authority of Singapore to expand financial institutions' settlement capabilities and improve interoperability between traditional payment systems and stablecoin payment rails. According to ChainCatcher, the effort is designed to let institutions access faster, programmable payments while maintaining security and compliance.

Nium will be the first partner under the BLOOM framework and will pilot stablecoin settlement with Visa. The companies will explore using stablecoins to enable more efficient cross-border fund flows through Visa's payment network and compliance infrastructure, including settlement seven days a week, such as weekends and public holidays, to reduce delays and improve efficiency. The pilot will support regulated stablecoins backed by major currencies, including dollar- and euro-denominated stablecoins.