Visa has officially joined the Monetary Authority of Singapore-led BLOOM initiative, marking a significant escalation in its involvement in Singapore's digital asset ecosystem. The payments giant announced its participation in the initiative on August 25, 2026, working alongside Nium to test seven-day stablecoin settlement capabilities. The pilot builds on a wider stablecoin settlement pilot that Nium joined in November, under which it settles with Visa using stablecoins including Circle's USDC. The BLOOM framework, which stands for Borderless, Liquid, Open, Online and Multi-currency, aims to test how financial institutions can connect traditional payment systems with stablecoin payment rails while retaining existing security and compliance controls. For Visa, this move places one of the world's largest card and payments networks inside a regulatory initiative focused directly on stablecoin interoperability, showing how major incumbents are trying to shape the rules and operating models for digital settlement rather than leaving that work solely to crypto-native firms.
The pilot focuses on weekend and public holiday settlements, addressing traditional payment systems that remain tied to banking days. As reported by Visa, stablecoins could make payment flows more programmable and allow institutions to manage settlement outside normal banking hours while using Visa's network, security systems and compliance controls. The initial scope includes dollar and euro-denominated stablecoins, though the companies did not identify specific tokens that would be used. The pilot could speed cross-border settlements by letting banks move funds seven days a week, including weekends and public holidays, which matters in cross-border payments where timing gaps can affect treasury operations, liquidity management and business receipt speeds. A shift to continuous settlement could change how institutions manage working capital and reconcile transfers across markets. According to Visa, this is expected to reduce delays, improve efficiency, and provide participating financial institutions with faster access to funds. For businesses, this could mean greater efficiency in how payments are sent, received and managed, while for consumers it could pave the way for more seamless payment experiences regardless of the underlying technology powering the transaction.
According to Adeline Kim, Visa's group country manager for Regional Southeast Asia and SVP, global clients & acquirers, Asia Pacific, the future of payments will be shaped by how different forms of money and payment networks work together for different use cases. Kim emphasized that different forms of money will increasingly need to operate across connected payment networks. The BLOOM framework was introduced by the Monetary Authority of Singapore in late 2025 as a framework for developing settlement systems based on tokenized bank liabilities and regulated stablecoins. Kim stated that through BLOOM and the pilot with Nium in Singapore, Visa is exploring how stablecoins can complement existing payment infrastructure, enabling greater flexibility in settlement while preserving the security, resilience and compliance standards that underpin global commerce. As digital payments continue to evolve, interoperability will be critical to delivering meaningful value across the financial ecosystem. Kim added that as one of the world's leading financial and innovation hubs, Singapore continues to play a key role in advancing responsible digital finance through collaboration across public and private sectors.
For Nium, the Singapore pilot follows its previous work using stablecoins for international business payments. The company recently expanded its US activities by launching domestic card issuance, adding to a business that already issues more than 41 million card credentials a year across markets including Singapore, Hong Kong, Australia, the UK and Europe. Nium's existing card and cross-border payments operations mean the trial links a digital asset settlement experiment with a firm that already manages payment flows across multiple regions, giving the project a practical way to test how stablecoin settlement interacts with established issuing and money movement systems. Nium described the project as part of a broader convergence between traditional and digital payment rails, with the test helping define how payment infrastructure in the region develops. Amaresh Mohan, chief risk and compliance officer at Nium, said the pilot was a meaningful step in their partnership to shape the next phase of payments in the region, emphasizing that they're building foundational infrastructure for seamless interoperability between traditional and stablecoin-based rails.
The BLOOM initiative has attracted significant industry participation beyond Visa and Nium, with Maybank Singapore recently joining to help develop common standards and infrastructure. This broader participation indicates growing industry confidence in stablecoin-based payment systems and their potential to transform cross-border financial services. Visa's involvement represents a significant milestone in the mainstream adoption of digital asset technologies, as the company's participation validates the regulatory framework and practical applications of stablecoin settlement. The initiative brings together financial institutions and industry participants to test faster and more programmable cross-border payments, creating a collaborative environment for developing standards that could reshape how global payments operate. Visa's existing stablecoin settlement infrastructure across nine blockchain networks, including Ethereum, Solana, Avalanche, Stellar, Base, Polygon, Canton, Arc and Tempo, positions the company well to leverage the BLOOM framework for broader market applications.
