👈 Financial Times: Saudi Arabia has withdrawn from the mBridge platform for a cross-border digital currency, which is part of China’s efforts to create an alternative to payment systems dominated by the dollar.

Saudi Arabia’s central bank announced that the country completed its pilot phase (Proof of Concept) in May 2025, and that exiting the platform was also part of its original plan.

The move comes after a similar withdrawal by the Bank for International Settlements (BIS) in 2024; an action that took place amid reports about pressure from the United States. It also follows statements by Donald Trump, the U.S. president, who threatened BRICS member countries with 100% tariffs if they attempt to create alternatives to the dollar.

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