Saudi Arabia’s central bank is reported to have withdrawn from China’s mBridge cross-border digital payments and CBDC platform. Multiple outlets cite a Financial Times report saying Riyadh has ended formal participation after completing a test or proof of concept in 2025.
According to the South China Morning Post, analysts describe the move as having greater symbolic than operational impact. Several reports link mBridge to broader efforts to reduce reliance on the US dollar in international finance, and note that the platform’s potential to enable direct digital-currency transactions among central banks has drawn scrutiny.
The US policy concern cited across coverage focuses on fears that such systems could help countries bypass dollar-dominated payment rails such as SWIFT. While outlets broadly agree Saudi participation has ended formally, one report says a source indicates the Saudi central bank may remain involved in some way, creating some uncertainty about the extent of the withdrawal.
