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

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

Riyadh joined the project in 2024, but stated that its participation was temporary, ending after concept testing was completed in May 2025.

Saudi officials denied that the kingdom's withdrawal was a response to American pressure.

Source: Financial Times

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