Visa Teams with Nium for Seven-Day Stablecoin Settlement in Singapore
Visa and Nium are testing faster cross-border payment flows through Singapore's BLOOM initiative. The pilot, led by the Monetary Authority of Singapore, will explore seven-day stablecoin settlement using regulated stablecoins backed by major currencies like the U.S. dollar and euro.
The BLOOM program brings together financial institutions to test faster and more programmable cross-border payments. Visa's payment network and compliance systems will be used in conjunction with Nium's licensed payments infrastructure.
Nium is Visa's first pilot partner under the BLOOM program, aiming to reduce delays in payment settlements typically occurring on business days. The companies aim to give participating financial institutions faster access to funds outside standard settlement windows.