Saudi Arabia Exits China-Led mBridge Blockchain Payments Platform

The Saudi Central Bank joined mBridge as an observer in 2023 and a full participant in 2024 to test wholesale digital currencies for efficient cross-border settlements.

It completed a proof-of-concept trial on May 13, 2025, and exited per its original plan, as the platform developed with central banks from China, Hong Kong, Thailand, and the UAE continues with new members like Macau.

Online views differ, with some linking the timing to US ties amid Yemen tensions, though officials and experts stress it reflects the trial's end rather than politics. Saudi Arabia keeps its currency pegged to the dollar while balancing relations with both the US and China.