According to the Financial Times, SAMA ended its participation after a proof of concept
According to the Financial Times, the Saudi Central Bank (SAMA) has left mBridge, a cross-border payments platform based on central bank digital currencies. SAMA joined the project as a full participant in June 2024.
Citing a statement from the central bank, the newspaper reports that participation ended after the completion of a proof of concept on May 13, 2025. SAMA reportedly said that the exit had been planned.
mBridge allows participating central banks to issue and exchange their digital currencies on a shared ledger, including for cross-border payments and foreign-exchange operations. The project does not use a single stablecoin.
mBridge was launched in 2021 by the Bank for International Settlements through its Innovation Hub, together with the central banks of China, Hong Kong, Thailand and the United Arab Emirates. In October 2024, the BIS transferred the project to the participating central banks after it reached the minimum viable product stage.
