Saudi Central Bank Exits mBridge Cross-Border Payment Platform Co-Built by Multiple Central Banks

SAMA's exit from mBridge is a notable setback for the most advanced multi-central-bank CBDC bridge, since Saudi Arabia had been widely cited as a participant in a project seen as a channel for reducing dollar-clearing dependence. The confirmed facts are narrow: SAMA says it joined as an observer in 2023, took part in MVP work in 2024, and ended its membership after completing the proof of concept on May 13, 2025, while denying any link to U.S. pressure. The practical effect is that mBridge now rests on the BIS-origin group of the Bank of Thailand, the Central Bank of the UAE, the Digital Currency Institute of the People's Bank of China, and the Hong Kong Monetary Authority, with the BIS having handed the project to those partners in October 2024 and Macao's monetary authority joining and going live in June. Watch whether other observers follow SAMA out, whether the remaining partners publish new governance or membership details, and whether cross-border settlement volumes on the platform continue to grow without Saudi participation.