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 Hedge Fund That’s Up 227% Makes Bet on Gold READ MORE Silver Tumbles Over 5% as Investors Flee to Cover Stock Losses READ MORE Governor Waller Opens Conference on U.S. Dollar's Global Role READ MORE CPI Up 0.4% in February, a 3.2% Increase From a Year Ago READ MORE US Job Market Cooler Than Thought: 818,000 Jobs Reduced in Revision READ MORE Add a Comment Cancel replyYour email address will not be published.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