World & BusinessSaudi Arabia reportedly withdraws from China-led mBridge digital payments project
A post citing the Financial Times says Saudi Arabia’s central bank described its departure as planned, following completion of a proof-of-concept trial in May 2025.
TLDR
Posts citing the Financial Times say Saudi Arabia has withdrawn from mBridge. One account says the Saudi central bank, SAMA, became an observer in 2023, joined the project in 2024 and completed its trial in May 2025. It says SAMA described the exit as planned. That account describes mBridge as enabling direct settlements between central banks using digital currencies and blockchain, reducing the need for the dollar as an intermediary. It also says SAMA continues studying digital currencies for institutions and stablecoins.
Saudi Arabia reportedly withdraws from China-led mBridge digital payments project
A post citing the Financial Times says Saudi Arabia’s central bank described its departure as planned, following completion of a proof-of-concept trial in May 2025.
