Visa, Nium Pilot Seven-Day Stablecoin Settlement Under MAS' BLOOM
Visa and Nium are piloting a seven-day stablecoin settlement under the Monetary Authority of Singapore's BLOOM initiative. This pilot aims to speed up programmable cross-border crypto payments and boost stablecoin adoption and interoperability between traditional rails and digital-asset infrastructure while preserving security and compliance.
The pilot will use regulated USD- and EUR-backed stablecoins, alongside Visa's payment network and compliance systems. This is part of the BLOOM program, which brings together financial institutions and industry participants to test faster cross-border payments. The BLOOM initiative stands for Borderless, Liquid, Open, Online, and Multi-currency.
Nium is Visa's first pilot partner under the program. Payment settlements typically take place on business days, but the two companies will explore settlement on weekends and public holidays. This move adds to the region's banks moving into stablecoin infrastructure.