cryptonews.net
The Venom Foundation has issued a public call to central banks and financial regulators across Southeast Asia to collaborate on developing compliant digital financial systems. The initiative aims to align with national priorities and promote regional interoperability using blockchain infrastructure.
The Foundation addressed key institutions, including the Monetary Authority of Singapore, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, and the State Bank of Vietnam. It outlined its proposal for a sovereign-compatible Layer-0 blockchain designed to support cross-border payments, real-time settlements, and regulatory transparency at scale.
Southeast Asia is experiencing rapid growth in digital payments, projected to reach 765 billion transactions annually by 2027. The Philippines alone represented 4.75% of global remittance inflows in 2023. Despite this, many payment systems in the region remain fragmented, with limited interoperability and slow settlement processes.
Venom’s Layer-0 blockchain infrastructure, already operational, is positioned as a solution to modernize public financial systems. It supports various institutional use cases, including stablecoin issuance. A USD-backed stablecoin, USDV, is currently active, with plans to expand to local currency-based stablecoins across the region. The platform is compliant with ISO 20022, enabling integration with existing financial systems and regulatory requirements.
Pilot programs are already in development in the Philippines with local financial institutions. A broader regional rollout is planned for 2025, focusing on a dedicated settlement layer for cross-border stablecoin transactions between banks and government entities. To support these efforts, Venom provides modular tools, including digital identity systems, on-chain compliance features, analytics APIs for regulators, and asset tokenization solutions. The infrastructure also includes training programs for government personnel and developers.
Image: Freepik