Saudi Arabia Quietly Exits China-Led mBridge Digital Currency Project
13 Articles
13 Articles
Saudi Arabia exits mBridge: Can China-led platform still challenge US dollar, become global cross-border payment system?
Saudi Arabia quietly exited the China-led mBridge digital currency project in 2025, saying it was part of its original plan. The platform aims to enable faster cross-border payments while reducing reliance on the US dollar and SWIFT, and continues expanding despite the withdrawal.
Saudi Arabia has withdrawn from the mBridge project, an international platform for cross—border payments in digital currencies of central banks, which is being developed with the active participation of China
Saudi Arabia has withdrawn from the mBridge project, an international platform for cross—border payments in digital currencies of central banks, which is being developed with the active participation of China. The system was conceived as a...
SAMA has issued a statement to the British Financial Times newspaper regarding the matter. Saudi Arabia's involvement in the development of digital currencies, spearheaded by China, which allow central banks to conduct direct cross-border transactions...
The Saudi Arabian Central Bank (SAMA) announced its withdrawal from a digital platform developed under Chinese leadership, which aimed to create an alternative payment system to the dollar for international payments.
SAMA announced that it has ended its participation in the China-led mBridge platform and completed its proof-of-concept work on May 13, 2025. A source stated that Saudi Arabia's role in the project was limited and that drawing broad conclusions from the decision would be inaccurate.
Riyadh Has Withdrawn From China's Cross-Border Payments Platform, but Not Under Pressure From the US
Riyadh has withdrawn its participation in a Beijing-led digital currency program that is part of China’s efforts to develop an alternative to the dollar for cross-border payments. The mBridge platform has sparked controversy in Washington over concerns that participants could use it to circumvent fiat-dominated conventional payment systems […]
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