Saudi Arabia Departs Project mBridge CBDC Initiative
The Saudi Central Bank (SAMA) has concluded its participation in Project mBridge, a multi-central bank digital currency (CBDC) initiative focused on cross-border payments. SAMA, which joined as an observer in 2023, finalized its involvement after the proof-of-concept phase concluded on May 13, 2025. The central bank clarified that its departure was not influenced by external geopolitical pressure, but rather marked the natural end of its testing phase participation.
Project mBridge, launched by the BIS Innovation Hub, utilizes distributed ledger technology to facilitate real-time foreign exchange transactions using CBDCs. Founding members include the central banks of Thailand, the UAE, China, and Hong Kong. While Saudi Arabia exits, other regional entities, such as the Monetary Authority of Macao, are joining, indicating continued interest in the platform's potential to bypass traditional correspondent banking. The global financial community continues to monitor these developments at the intersection of blockchain technology and traditional finance.
https://cryptovka.com/news/saudi-arabia-concludes-participation-in-mbridge-cbdc-project
npub1kc…f0vwv
2026-09-21 02:06:32 UTC
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wss://relay.damus.ioPublished at
2026-09-21 02:06:32 UTCEvent JSON
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"content": "Saudi Arabia Departs Project mBridge CBDC Initiative\n\nThe Saudi Central Bank (SAMA) has concluded its participation in Project mBridge, a multi-central bank digital currency (CBDC) initiative focused on cross-border payments. SAMA, which joined as an observer in 2023, finalized its involvement after the proof-of-concept phase concluded on May 13, 2025. The central bank clarified that its departure was not influenced by external geopolitical pressure, but rather marked the natural end of its testing phase participation.\n\nProject mBridge, launched by the BIS Innovation Hub, utilizes distributed ledger technology to facilitate real-time foreign exchange transactions using CBDCs. Founding members include the central banks of Thailand, the UAE, China, and Hong Kong. While Saudi Arabia exits, other regional entities, such as the Monetary Authority of Macao, are joining, indicating continued interest in the platform's potential to bypass traditional correspondent banking. The global financial community continues to monitor these developments at the intersection of blockchain technology and traditional finance.\n\nhttps://cryptovka.com/news/saudi-arabia-concludes-participation-in-mbridge-cbdc-project",
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