Saudi Arabia Ditches China's mBridge Digital Currency Project

Saudi Arabia has exited China's digital currency project called mBridge, which utilizes blockchain technology to facilitate direct trade between central banks.

The move was confirmed by the Saudi Central Bank (SAMA), citing that they had completed a planned technical test in May 2025 and decided not to continue participating.

According to sources, Riyadh wanted to avoid public attention and potential US pressure, although an insider claims the bank is still working with the program quietly.