Visa (V) Stock: Visa Joins Singapore BLOOM Initiative for Stablecoin Settlement Pilot
TLDR
- Visa has joined Singapore’s Monetary Authority of Singapore (MAS)-led BLOOM initiative to test stablecoin settlement.
- Nium is Visa’s first partner under the BLOOM framework for the pilot.
- The pilot will test seven-day settlement, including weekends and public holidays, using regulated USD and euro-backed stablecoins.
- Visa already runs stablecoin settlement across nine blockchain networks with an annualized run rate of ~$7 billion.
- No launch timetable or transaction volume targets have been disclosed yet.
Visa has joined Singapore’s BLOOM initiative, a program led by the Monetary Authority of Singapore (MAS), to pilot stablecoin-based settlement with cross-border payments firm Nium. Visa reported $11.63 billion in quarterly net revenue in its July fiscal third-quarter earnings, with payment volume and processed transactions each rising 10% year over year.
The pilot will test whether regulated stablecoins backed by the U.S. dollar and euro can settle payment obligations seven days a week, including weekends and public holidays. Traditional settlement is tied to banking days, creating gaps where institutions cannot complete parts of the process.
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