Malaysia's Bank Negara Malaysia and Thailand's Bank of Thailand have joined the BLOOM (Blockchain-based Loan Origination and Management) initiative, which aims to develop a blockchain-based loan origination system. This brings the total number of participants to 24.
This article is Bitcoincryptos' summary and analysis of reporting originally published by CryptoPotato. Read the full original report at the link above.
The inclusion of these two central banks is significant, as it demonstrates the growing interest in blockchain technology in the region. Kasikornbank, a Thai bank, was already part of the BLOOM initiative before its central bank joined.
Maybank, a Malaysian bank, is also a new participant and is already involved in several blockchain-based projects, including a stablecoin and tokenized deposit pilot with Bank Negara Malaysia.