Visa Joins Singapore's MAS BLOOM Initiative to Pilot Stablecoin Settlements

Visa is participating in the BLOOM initiative led by the Monetary Authority of Singapore, aimed at expanding the settlement capabilities of financial institutions and promoting interoperability between traditional payment systems and stablecoin payments. As the first partner, Nium will pilot the use of stablecoin settlements with Visa, exploring more efficient cross-border fund flows under the Visa payment network. The pilot will investigate achieving seven-day-a-week settlements using stablecoins to reduce delays and enhance efficiency, supporting regulated stablecoins backed by major currencies, including those pegged to the US dollar and the euro.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.