Maybank Singapore joins MAS cross-border settlement initiative

The company's tokenisation efforts support its ROAR30 $3.2b digital investment.

Maybank Singapore has joined the Monetary Authority of Singapore’s (MAS) BLOOM initiative, which focuses on using tokenised bank liabilities and regulated stablecoins to support cross-border settlement.

BLOOM, which stands for Borderless, Liquid, Open, Online, Multi-currency, follows Maybank’s previous tokenisation-related activities in ASEAN.

The bank was involved in the first tokenised sukuk issuance by Malaysian sovereign wealth fund Khazanah Nasional Berhad.

It also completed an on-chain Malaysian Ringgit–Singapore Dollar foreign exchange conversion and cross-border payment for Yinson Holdings Berhad in real time under Bank Negara Malaysia’s Digital Asset Innovation Hub.

Maybank’s tokenisation efforts are part of its ROAR30 commitment to invest $3.2b (RM10b) over five years in technology, data, and artificial intelligence (AI).