Saudi Central Bank Exits China-Backed mBridge Digital Currency Project
- —SAMA completed its mBridge proof of concept on 13 May 2025 and exited the project
- —The withdrawal surfaced only 16 months later, via an FT report
- —mBridge volumes passed $55.5 billion across more than 4,000 payments
- —China's e-CNY accounted for roughly 95% of settlement volume
Why it matters: Saudi Arabia's exit weakens a settlement channel outside US sanctions' reach that Washington had flagged as a strategic risk.
Source: Crypto News Australia
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