Saudi Exit Sparks Tensions Over China's mBridge Payment Plan

Saudi Arabia has reportedly withdrawn from China's mBridge platform, a blockchain-based alternative to traditional dollar- and SWIFT-linked cross-border payment channels.

The move comes as US-China talks begin in New York on various topics, including agriculture, AI, rare earths, and extending the trade truce.

mBridge was designed to reduce reliance on the US dollar for international transactions. China's reported $618 billion in US Treasury holdings, an 18-year low, has put pressure on de-dollarization efforts.