Saudi Arabia Left China's mBridge CBDC Platform in May 2025 — Disclosed Sixteen Months Later

Saudi Arabia's central bank exited mBridge, the China-led cross-border CBDC platform, on May 13, 2025 after completing a proof of concept — a departure disclosed only this week by the Financial Times, citing SAMA's statement that the exit was planned. An anonymous source told the FT the kingdom continues engaging with the project discreetly. mBridge's remaining members — China, Hong Kong, Thailand, the UAE, with Macau live this year — are moving toward commercial rollout under a Hong Kong entity. Separately, Riyad Bank's Jeel unit is exploring Ripple for payment corridors and custody; coverage notes no evidence links the two developments.