Saudi Arabia’s central bank has formally withdrawn from the mBridge multi-central bank digital currency bridge project, according to ChainCatcher. Its participation lasted less than a year. The project is designed to improve cross-border settlement efficiency through a shared ledger. No further details were provided in the brief. The update marks the end of the Saudi central bank’s short involvement in the initiative, which focuses on using central bank digital currency infrastructure for more efficient cross-border payments and settlement between participating parties.
Saudi Arabia’s central bank has formally exited the mBridge multi-central bank digital currency bridge project, according to ChainCatcher, ending a participation period of less than one year.
The mBridge project is intended to enable more efficient cross-border settlement through a shared ledger.
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