Shea Levin — text status

Saudi Arabia has withdrawn from mBridge, a China-led digital currency platform created to enable direct cross-border payments between central banks and reduce reliance on dollar-based payment systems, according to the Financial Times. Riyadh, which joined the project in 2024, said its participation was always temporary and ended after completing a proof-of-concept in May 2025. The Saudi Central Bank rejected suggestions that the move came under U.S. pressure.