Visa Enters BLOOM, Singapore's Regulated Stablecoin Settlement Framework

Visa has become the first major card network to participate in BLOOM, the Monetary Authority of Singapore's initiative that connects traditional payment networks with regulated stablecoin rails. The program aims to facilitate cross-border payments and promote standardized compliance mechanisms for consistent cross-border implementations.

According to MAS Deputy Managing Director Leong Sing Chiong, BLOOM brings together more than 16 global institutions specifically to build compliant cross-border settlement frameworks. This is a significant development as it marks the first time a major card network has joined a central bank's supervised stablecoin settlement framework.

Visa will be partnering with Nium, a cross-border payments firm, under the BLOOM program. The two companies have already been settling payments in USDC bilaterally since November 2025, but this new partnership adds a regulatory layer that ensures compliance with MAS's standards for stablecoin issuance and settlement.

The BLOOM program is built on top of Project Orchid, an earlier initiative by MAS to explore programmable money and digital Singapore dollar infrastructure. The goal is to create a standardized approach to risk management and compliance across cross-border corridors.