The Saudi Central Bank (SAMA) has wrapped up its involvement in the mBridge central bank digital currency (CBDC) project, which is coordinated by China. SAMA confirmed it was stepping away after the development and testing phases of the platform.

What Happened

SAMA announced it’s pulling out of mBridge. The project aims to streamline cross-border settlements using CBDCs and distributed ledger technology (DLT) architecture.

SAMA’s Involvement Timeline

Saudi Arabia joined mBridge as an observer in 2023, then took part in building the pilot version of the platform in 2024. The proof-of-concept wrapped up on May 13, 2025, and that’s when Saudi Arabia ended its participation in the project.

What is mBridge?

mBridge leverages distributed ledger tech for direct cross-border settlements between central banks. The idea is to cut both the cost and time of currency transactions through the platform.