CoinScoopSaudi Arabia Exits mBridge CBDC Project
The Saudi Central Bank (SAMA) has officially exited the mBridge project, a cross-border CBDC platform led by the BIS Innovation Hub, China, Hong Kong, Thailand, and the UAE. SAMA stated that its departure followed the completion of a proof-of-concept test and was part of its original plan. The exit marks the first departure of a participating nation from the project, which has faced scrutiny from U.S. policymakers concerned that it could serve as a channel to bypass international sanctions.
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