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      Saudi Central Bank Exits mBridge Cross-Border Payment Platform Co-Built by Multiple Central Banks

      PANews reported on September 20, citing the Financial Times, that the Saudi Central Bank (SAMA) has exited the mBridge cross-border central bank digital currency platform, a move that had not previously been disclosed. SAMA said it joined in 2023 as an observer, participated in minimum viable product development in 2024, and ceased to be a member after completing the proof of concept on May 13, 2025, while denying that the move was related to U.S. pressure. mBridge was launched in 2021 by the Bank for International Settlements Innovation Hub Hong Kong Centre, with co-founders including the Bank of Thailand, the Central Bank of the UAE, the Digital Currency Institute of the People's Bank of China, and the Hong Kong Monetary Authority. The BIS handed the project over to its central bank partners in October 2024, and the Monetary Authority of Macao joined this year and went live in June.


      Source: PANews
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