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Project mBridge
Trends
- 1Saudi Arabia's exit from mBridge central bank digital currency project●Saudi Arabia’s mBridge Exit: Balancing China, Trump, and the Future of Global Finance
Saudi Arabia has withdrawn from mBridge, the cross-border central bank digital currency project that also involves China and other central banks. Analysts link the move to Riyadh's effort to balance ties between Washington and Beijing, as the project was seen as a potential challenge to dollar-based finance and drew attention during the Trump administration's scrutiny of alternatives to the US financial system.
- 2Saudi Arabia Quietly Left Major CBDC Project Over A Year Ago▼Saudi Arabia Left The World's Biggest CBDC Platform Sixteen Months Ago. It Took The FT To Notice.
Saudi Arabia withdrew from Project mBridge, the world's largest central bank digital currency platform, roughly sixteen months before the withdrawal drew public attention. The departure only became widely known after the Financial Times reported it, prompting questions about why the move went unnoticed and what it signals for cross-border CBDC cooperation.
- 3Saudi Arabia's mBridge exit highlights de-dollarisation limits●Opinion | Saudi Arabia’s mBridge exit shows the limits of financial de-dollarisation
Saudi Arabia has reportedly stepped back from Project mBridge, the central bank digital currency platform led by the Bank for International Settlements that aims to enable cross-border payments outside the dollar system. A South China Morning Post opinion column argues the move shows that de-dollarisation efforts face practical limits, as the dollar's dominance in trade and finance remains difficult to displace.