Saudi central bank leaves China-backed mBridge after planned trial

Saudi Arabia’s central bank has confirmed that it is no longer participating in mBridge, a cross-border payments experiment involving China, the Bank for International Settlements, and other central banks. The platform was built to let banks in different countries exchange digital versions of central-bank money directly, rather than relying entirely on the chains of correspondent banks that handle many international payments. SAMA said it completed its agreed proof-of-concept on May 13, 2025 and left as planned, so the disclosure is not evidence of a sudden policy reversal. Still, the exit removes Saudi Arabia from a high-profile effort that could have made some international payments less dependent on dollar-centered infrastructure; by itself, it says little about the kingdom’s wider approach to digital money or economic ties with China.