Saudi Arabia’s central bank, SAMA, ended its formal participation in mBridge after completing a planned proof of concept on May 13, 2025. SAMA joined the project as an observing member in 2023 before becoming a full participant in June 2024, alongside China, Hong Kong, Thailand and the United Arab Emirates. The central bank said its departure had been planned, though the decision has drawn attention amid U.S. concerns that dollar-alternative payment networks could weaken sanctions enforcement and the dollar’s international role. People familiar with the matter said SAMA has continued to engage with mBridge more discreetly, while another source said its involvement had always been limited. Created in 2021 by the Bank for International Settlements Innovation Hub and the central banks of China, Hong Kong, Thailand and the UAE, mBridge lets participating central banks transact in their own CBDCs on a shared ledger for cross-border payments and foreign-exchange settlement. The platform reached its minimum viable product stage in 2024 and continued under participating central banks after the BIS transferred it in October that year. Macau joined after the handover and its local banks gained access to the infrastructure in June 2026. An Atlantic Council report said mBridge transactions had exceeded $55 billion, about 2,500 times their 2022 level. China has separately expanded digital-yuan payment channels, including transactions between China and Singapore and a 220 million yuan transfer from Inner Mongolia to Hong Kong.