How about setting a blue shadow for the textview by using android:shadowColor and setting android:shadowDx and android:shadowDy to zero, with a pretty big android:shadowRadius?
Bemmu is right. Thats the best way by far without going the full OpenGL route. You want to also make sure the TextView has an aquate padding set on each side otherwise a large radius shadow that matches the origin text color (or a slight shade brighter) will show the dropshadow clipping on each side of the TextView.
You might even be able to achieve even more of a blur effect by creating a layered view group with increasing/decreasing dropshadow effects (not sure what render perf would be like however)
i recommend to add a padding, because the shadow/glow effect increases the needed space.
For custom fonts create a folder with the name "fonts" in your assets folder. Then put your .ttf files inside it. You can convert .otf files online there are lots of websites.
i have tested the glow effect and it works with custom fonts too.
Keep in mind that you maybe have to decrease the size of your text because custom fonts are for some reason bigger. I used the half of the sp size that i normally would use.