Saudi Arabia Withdraws From mBridge CBDC Project
12 Articles
12 Articles
Saudi Arabia Quietly Walked Away From China's Dollar Bypass Project mBridge
Saudi Arabia's central bank confirmed it exited China's mBridge cross-border payment platform, saying it simply finished a proof-of-concept phase completed back in May 2025. The timing of the announcement, amid heavy US pressure on dollar alternatives, has analysts questioning whether the real story is a lot less boring than SAMA is letting on.
According to Cointelograph, Saudi Arabia left mBridge, a cross-border CBD project led by China and a target for scrutiny in the US
Saudi Arabia has withdrawn from the mBridge (Multilateral Central Bank Digital Currency Bridge) project, a cross-border digital currency platform led by the People's Bank of China. The development of the digital yuan continues to face obstacles, and its prospects for domestic and international application are bleak.
Saudi Arabia Withdraws From China-Backed mBridge CBDC Plan—FT
Saudi Arabia’s central bank has ended its participation in mBridge, a China-backed project built to test direct cross-border payments between central banks using digital currencies, according to the Financial Times. The Saudi central bank, SAMA, joined mBridge as a full participant in June 2024 and completed its proof of concept on May 13, 2025, the [...]
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