Saudi Arabia Joins China-Led CBDC Project for Cross-Border Trade Saudi Arabia has joined Project mBridge, a central bank digital currency (CBDC) cross-border trial led by China and supported by the Bank for International Settlements (BIS). This project, which includes central banks from China, Hong Kong, Thailand, and the UAE, aims to facilitate cross-border transactions and reduce reliance on the U.S. dollar in global oil trade. The BIS announced that Project mBridge has achieved the “minimum viable product” stage, advancing beyond the prototype phase. The initiative highlights the growing global interest in CBDCs, with 135 countries exploring their potential despite technical and political challenges. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts July Sees Growth in Gold and Silver Stocks in London Vaults READ MORE HBAR – Real World Asset Tokenization is Here READ MORE Investors Flock to Gold as Middle East Tensions Escalate, Dollar Tumbles READ MORE Ports as Pawns: The $2 Trillion Transformation of Global Trade Hubs READ MORE Silver's Structural Deficit: What It Means for Your Portfolio | Alan Hibbard READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment