Visa joins MAS-led Bloom pilot to test stablecoin bank settlement

Visa has joined the Monetary Authority of Singapore-led Bloom project and will pilot settlement using regulated, currency-backed stablecoins with B2B cross-border payments provider Nium in Singapore. The pilot is designed to allow banks and other regulated entities to settle funds seven days a week, including weekends and public holidays.

Bloom, short for Borderless, Liquid, Open, Online, Multi-currency, is testing how traditional payment systems can be linked with stablecoin networks so financial institutions can move funds faster and add programmable features while preserving standard safeguards.

The pilot will use regulated stablecoins backed by major currencies, including options denominated in U.S. dollars and euros. The work focuses on settlement flows between banks and other regulated participants, aiming to reduce settlement delays and give institutions quicker access to funds.

Visa described the effort as an exploration of how regulated stablecoins could complement existing payment rails rather than replace them. Nium will run technical and operational tests of settlement flows among participating financial institutions in Singapore.

Adeline Kim, group country manager for Southeast Asia and senior vice president for global clients and acquirers at Visa Asia Pacific, noted: “The future of payments will be shaped by how different forms of money and payment networks work together for different use cases. Through Bloom and our pilot with Nium in Singapore, we are exploring how stablecoins can complement existing payment infrastructure, enabling greater flexibility in settlement while preserving the security, resilience and compliance standards that support global commerce.”

The MAS-led project is part of Singapore’s broader work on digital assets and payments under regulated frameworks. Participating institutions will assess technical integration, operational controls and applicable regulatory requirements as the pilot progresses. Organisers say the project seeks to narrow the gap between transaction initiation and final settlement, which is often limited by banking hours, local holidays and interbank processes.