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Project mBridge
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- 1Saudi Arabia's mBridge exit exposes limits of de-dollarisation▼Opinion | Saudi Arabia’s mBridge exit shows the limits of financial de-dollarisation
Saudi Arabia has withdrawn from mBridge, the cross-border digital currency project backed by the Bank for International Settlements that aimed to enable central banks to settle payments without the dollar. Commentators argue the move shows the limits of efforts to build alternatives to dollar-based finance, with Riyadh prioritising its currency peg and close financial ties to the United States over BRICS-style de-dollarisation ambitions.