Visa, a global payments technology company, has confirmed its participation in BLOOM (Borderless, Liquid, Open, Online, Multi-currency), an initiative led by the Monetary Authority of Singapore (MAS) that aims to extend the settlement capabilities available to financial institutions. The programme is designed to support interoperability between traditional payment systems and stablecoin-based payment rails. As part of the initiative, Nium has become Visa's first partner to pilot stablecoin settlement under BLOOM.
Settlement beyond business days
Payment settlements currently take place on business days, which can create delays for financial institutions awaiting funds over weekends and public holidays. Through the pilot, Visa and Nium are testing whether stablecoins can enable settlement seven days a week, including non-business days. The companies state that this could reduce delays and give participating institutions faster access to funds. The pilot will support regulated stablecoins backed by major currencies, including those denominated in US dollars and euros.
According to Visa, the approach is intended to complement rather than replace existing payment infrastructure, allowing traditional and stablecoin-based rails to operate alongside one another while maintaining existing security, resilience and compliance standards. Nium has described the work as part of a broader effort to build interoperable infrastructure between conventional payment systems and digital currency rails, framing the convergence of the two as an ongoing industry development.
Context: Singapore's role in digital finance
The BLOOM initiative is being coordinated by MAS as part of continuing efforts by Singapore's public and private sectors to develop digital finance infrastructure. Singapore has positioned itself as a hub for payments innovation in Asia-Pacific, and initiatives such as BLOOM form part of that broader effort to establish interoperable and regulated settlement frameworks that incorporate stablecoins alongside traditional systems.
For financial institutions, the pilot is intended to demonstrate whether stablecoin settlement can operate within existing compliance and risk frameworks while offering more frequent settlement cycles. For businesses using cross-border payment services, faster settlement could affect how funds are managed and reconciled. The companies have not disclosed a timeline for the pilot's completion or details of when findings might be published.
The Visa-Nium pilot adds to a wider set of initiatives across the payments industry exploring stablecoin use for settlement, as regulators in several markets continue to develop frameworks governing their use in regulated financial infrastructure.
