Overview
- SAMA completed its mBridge proof of concept on May 13, 2025 and stopped participating thereafter, a fact the central bank confirmed publicly in reports published on September 20–21, 2026.
- Project mBridge — a shared blockchain for wholesale central bank digital currencies — remains active under China, Hong Kong, Thailand and the UAE with Macao added and is moving toward commercial rollout.
- By late 2025 mBridge had processed meaningful real‑value volume, about $55.5 billion according to published reports, showing the platform can settle cross‑border transactions between participating central banks.
- Saudi officials say the exit was the planned end of an exploratory trial and not proof that SAMA is adopting a specific private alternative, though Riyad Bank’s Jeel is separately testing Ripple technology.
- Governance and compliance questions, including U.S. worries about bypassing dollar clearing and enforcing sanctions, have shaped participation decisions and will influence how mBridge and private pilots are regulated and used.