Saudi Arabia Quietly Exits China-Led mBridge Digital Currency Project

Oil-rich Gulf kingdom exits China-led digital currency platform as Africa deepens its yuan payment links

Gulf oil powerhouse Saudi Arabia has exited a China-led digital currency platform designed to facilitate cross-border payments without relying on traditional dollar-based financial networks, even as African banks deepen their links to China's yuan payment infrastructure.

Saudi Arabia has withdrawn from the mBridge project, an international platform for cross—border payments in digital currencies of central banks, which is being developed with the active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Saudi Arabia has withdrawn from the mBridge project, an international platform for cross—border payments in digital currencies of central banks, which is being developed with the active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...

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 Quietly Steps Back From Beijing-Led mBridge Platform

The Saudi Central Bank (SAMA) has stepped away from mBridge, a China-led system for settling cross-border payments in digital currencies. It confirmed the exit to the Financial Times. SAMA described the move as a step the bank had planned from the outset. This marks the first public confirmation of a withdrawal that took place last [...]