The Saudi Central Bank (SAMA) has withdrawn from the mBridge cross-border central bank digital currency platform following the completion of its proof of concept on May 13, 2025. SAMA stated it joined as an observer in 2023 and participated in minimum viable product development throughout 2024 before ceasing membership, explicitly denying that U.S. pressure influenced the decision. Launched in 2021 by the BIS Innovation Hub Hong Kong Centre, mBridge was co-founded by the Bank of Thailand, Central Bank of the UAE, Digital Currency Institute of the People's Bank of China, and Hong Kong Monetary Authority. The BIS transferred project oversight to central bank partners in October 2024, with the Monetary Authority of Macao joining this year and going live in June.