Maybank Singapore has announced its participation in the Monetary Authority of Singapore’s (MAS) BLOOM initiative, aiming to revolutionise cross-border settlements. The initiative, which stands for Borderless, Liquid, Open, Online, Multi-currency, seeks to improve financial interoperability through the use of tokenised bank liabilities and regulated stablecoins.
This collaboration marks another milestone in Maybank’s journey towards digital finance, following its involvement in the first tokenised sukuk issuance by Khazanah Nasional Berhad and the real-time Malaysian Ringgit-Singapore Dollar FX conversion for Yinson Holdings Berhad. Alvin Lee, CEO of Maybank Singapore, stated, “Through BLOOM, Maybank aims to help shape the common standards and infrastructure principles needed to enable the future of digital finance in Singapore.”
Maybank’s participation in BLOOM aligns with its ROAR30 strategy, a five-year plan to invest S$3.2b (RM10b) in technology, data, and artificial intelligence. This strategy focuses on making banking more efficient and accessible, particularly for small and medium enterprises.
In addition to its technological advancements, Maybank has been recognised by Euromoney’s Awards for Excellence 2026 as the World’s Best Bank for Corporate Responsibility, Asia’s Best Bank for ESG, and ASEAN’s Best Bank for Large Corporates. These accolades underscore Maybank’s commitment to sustainable and responsible banking practices.
