Saudi Central Bank exits mBridge CBDC project
- Saudi Central Bank terminates participation in the multi-central bank digital currency mBridge infrastructure project.
- The exit follows completion of a wholesale digital currency proof of concept on May 13, 2025.
- The move reshapes geopolitical cross-border payment settlement rails and international digital currency architecture.
Saudi Central Bank has officially departed the China-backed mBridge cross-border central bank digital currency initiative in Riyadh.
The central bank completed its planned evaluation phase after joining the wholesale digital currency minimum viable product platform.
Official statements confirmed SAMA executed its scheduled exit strategy immediately following the completed proof of concept testing.
The platform enables direct interbank cross-border liquidity settlement using distributed ledger technology across multiple sovereign digital fiat currencies.
Technical assessments focused on evaluating wholesale digital currency feasibility to optimise cross-border payment efficiency between commercial banks.
The multi-currency project originally operated under Bank for International Settlements Innovation Hub oversight before transitioning to participating central banks.
Global monetary authorities continue advancing independent digital payment rails to modernise international settlement systems and cross-border financial channels.
The withdrawal signals shifting strategic alignments within multi-jurisdictional digital currency networks across international capital markets.
