Saudi Arabia has pulled out of the mBridge project, a cross-border central bank digital currency (CBDC) platform. The move was reported by the Financial Times. The platform, backed by China, has been subject to scrutiny from US officials. The exact reasons for Saudi Arabia's departure are unclear. mBridge aims to facilitate cross-border transactions and payments using CBDCs. The US has expressed concerns about the project's implications for global financial stability.
Source
"Saudi Arabia Exits mBridge CBDC Project" — Cointelegraph
This article is Bitcoincryptos' summary and analysis of reporting originally published by Cointelegraph. Read the full original report at the link above.
