According to CoinMeta, on October 23, the Monetary Authority of Singapore (MAS) announced that the Bank of Malaysia and the Bank of Thailand have officially joined the Cross-Border Digital Currency Initiative (CBDCI), which aims to jointly promote cross-border payments and settlements of regulated stablecoins, tokenized deposits, and other digital currencies. This initiative has seen the addition of new participants such as Ripple, Visa, Mastercard, Airwallex, and the World Bank Group. The focus is on researching cross-border settlements, interoperability between different payment networks, and programmable compliance controls, with the goal of reducing cross-border transaction costs for financial institutions.