Published: · Region: Middle East · Category: markets

Saudi Arabia Ends Participation in China‑Led mBridge Digital Currency Project

Saudi Arabia has withdrawn from mBridge, a China‑led digital currency platform for cross‑border payments between central banks, after completing a proof‑of‑concept. Riyadh says the exit was planned and not a response to external pressure.

Saudi Arabia has stepped away from a prominent experiment in central bank digital currencies, ending its participation in the China‑backed mBridge platform.

The kingdom joined mBridge in 2024. The project is designed to let central banks move money directly across borders using digital currencies, with the aim of reducing reliance on existing systems and on the dollar‑based financial infrastructure that underpins many international payments.

According to Saudi officials, Riyadh’s role in mBridge was always intended to be temporary. They say participation ended after the country completed a proof‑of‑concept phase in May 2025.

Officials also deny that the withdrawal reflects a political response to pressure from the United States or any other partner. They frame it instead as the planned conclusion of a technical trial.

Saudi Arabia’s exit doesn’t shut down mBridge, which continues as a China‑led platform involving other central banks. But it does clarify that, for now, Riyadh isn’t committing to the system beyond the pilot stage.

Signals to watch from here include whether Saudi Arabia engages in new cross‑border payment experiments, how it positions its own digital currency work, and whether it joins other regional or global platforms after leaving mBridge.

Sources

Related Coverage

MIDDLE EAST

Saudi Arabia exits Chinese-led digital currency payment project

Saudi Arabia has withdrawn from a Chinese-led digital currency and blockchain payment system designed to reduce reliance on the U.S. dollar. The move raises questions about how far Riyadh is willing to go in supporting financial platforms seen as alternatives to Western-dominated networks.
MIDDLE EAST

Saudi Arabia Quits China‑Led Digital Currency Project Aimed at Reducing Dollar Use

Saudi Arabia has withdrawn from a Chinese‑backed blockchain and digital currency payment system designed to reduce reliance on the U.S. dollar, according to regional reporting. The move highlights Riyadh’s effort to balance China’s financial ambitions with its long‑standing ties to Washington.
FORECAST

Iran Formally Notifies NPT Withdrawal or Sets Irreversible Path Toward Exit

Middle East · 30d
MIDDLE EAST

U.S. Warns Travelers of Possible Middle East Airspace Closures Amid Escalation Risk

The U.S. State Department has warned Americans in the Middle East to expect possible military escalation, flight cancellations, airspace closures, and wider transport disruptions, as regional tensions rise.
WARNING

Macron, Iran Threats and Ukraine Strikes Expose New Fault Lines in Global Energy War

French President Macron says a recent strike on Saudi Arabia’s key East–West pipeline has left less than half of the region’s oil production reaching markets, just as Ukraine’s attack on Gazprom’s Moscow refinery triggers fuel rationing and Iran moves to fast‑track an NPT exit and threaten all US bases. The day’s developments link the Ukraine battlefield, Gulf energy infrastructure and Iran–US confrontation into a single, more volatile risk complex for winter fuel security, global inflation and regional stability.
WARNING

Iran Files Urgent Bill to Quit Nuclear NPT Treaty

Iran has submitted an urgent bill to parliament to withdraw from the Nuclear Non-Proliferation Treaty, materially raising the probability of a nuclear and regional escalation track. This move increases the geopolitical risk premium across crude benchmarks and safe-haven assets, with markets likely to price higher odds of sanctions tightening and disruption to Gulf shipping if crisis dynamics accelerate.