SAMA Ends Participation in mBridge CBDC Project After Trial
The Saudi Central Bank (SAMA) has ended its participation in the mBridge project for central bank digital currencies (CBDCs), according to a statement.
SAMA's involvement in the project, which aims to improve cross-border payments and settlement operations between commercial banks, concluded in 2025 after a proof-of-concept trial was completed on May 13 of that year.
The trial, conducted in a test environment without any real financial transactions, assessed the feasibility of using wholesale CBDCs for cross-border payments. SAMA did not join the subsequent phases of the project.
SAMA had joined the mBridge project as an observer member on June 11, 2023, alongside more than 25 central banks and international organizations, including the European Central Bank (ECB) and the International Monetary Fund (IMF).