Saudi Central Bank Exits mBridge CBDC Project

Saudi Arabia's central bank has withdrawn from the mBridge CBDC project, which focuses on cross-border digital currency transactions, after participating in its pilot phase.

The Saudi Central Bank (SAMA) has officially withdrawn from the mBridge initiative, an international Central Bank Digital Currency (CBDC) project led by China, according to a report from the Financial Times citing the regulator's announcement.

SAMA initially joined the project as an observer in 2023 and took part in developing a pilot version in 2024. The proof of concept was completed on May 13, 2025, after which Saudi Arabia decided to exit. The mBridge project employs distributed ledger technology to facilitate direct cross-border transactions between central banks, aiming to reduce costs and time associated with currency operations. Remaining participants in the project include China, Hong Kong, Thailand, the UAE, and Macau.

Saudi Arabia Exits China's mBridge CBDC Project