Saudi Arabia has pulled out of mBridge, a China-led digital currency platform designed to enable direct cross-border payments between central banks and reduce dependence on the dollar.

Saudi Arabia has pulled out of mBridge, a China-led digital currency platform designed to enable direct cross-border payments between central banks and reduce dependence on the dollar.

Riyadh joined the project in 2024 but said its participation was always temporary and ended after a proof of concept was completed in May 2025.

Saudi officials denied that the withdrawal should be interpreted as a response to US pressure.

Source: FT