mBridge
PilotSaudi Arabia
Central Bank(s)
Saudi Arabian Monetary Authority
Announcement Year
2021
Status
Pilot
Retail/Wholesale
Wholesale
Technology
Dashing Protocol
DLT / non-DLT
DLT
mBridge offers a unique opportunity to improve international trade settlement.Given that the total value of international trade transactions between the four participating jurisdictions amounted to more than USD$730 billion according to the World Bank, the mBridge Steering Committee has given priority to this use case. Testing of sample trade settlement transactions across 11 industries has commenced on the trial platform.
A six-week pilot project to evaluate whether central bank digital currencies (CBDC) would be useful for foreign exchange transfers successfully had 20 different commercial banks conduct over 160 payments worth around a total of $22 million.
Link to announcement
Link to whitepaper
Last update: June 2026
June 2026
Announcement Year: 2022 → 2021
Link to announcement: web.archive.org
May 2025
Link to announcement: www.ft.com
October 2024
Link to announcement: www.bis.orgwww.bloomberg.comwww.ledgerinsights.com
June 2024
Link to announcement: www.bis.org
January 2024
Research → Pilot
Link to announcement: gulfnews.com
October 2023
Link to announcement: coingeek.comm.thepaper.cn
September 2023
Link to announcement: www.bis.org
November 2022
Description: A six-week pilot project to evaluate whether central bank digital currencies (CBDC) would be useful for foreign exchange transfers successfully had 20 different commercial banks conduct over 160 payments worth around a total of $22 million.
Link to announcement: www.bis.orgwww.coindesk.com
October 2022
None → Research
Announcement Year: 2022
Retail/Wholesale: Wholesale
Technology: Dashing Protocol
DLT / non-DLT: DLT
Main motivation/goals of the CBDC: mBridge offers a unique opportunity to improve international trade settlement.Given that the total value of international trade transactions between the four participating jurisdictions amounted to more than USD$730 billion according to the World Bank, the mBridge Steering Committee has given priority to this use case. Testing of sample trade settlement transactions across 11 industries has commenced on the trial platform.
Link to announcement: www.bis.org
Link to whitepaper: www.bis.org
Country / Region: Saudi Arabia
Central Bank(s): Saudi Arabian Monetary Authority
Biztoc.com · Sep 21, 2026