Saudi Central Bank Joins Project mBridge Central Bank Digital Currency Initiative

Wednesday, 5 June 2024, 13:00

The collaboration of the Project mBridge e-currency project with Hong Kong and mainland China has achieved a significant milestone, with the Saudi Central Bank now becoming a part of the central bank digital currency initiative. This move marks the launch of a minimum viable product, paving the way for enhanced cooperation and future developments within the project.

https://store.livarava.com/027c1f23-2340-11ef-a40b-9d5fa15a64d8.jpg — Saudi Central Bank Joins Project mBridge Central Bank Digital Currency Initiative

Project mBridge E-Currency Project Milestone

The Project mBridge e-currency initiative, a collaborative effort involving Hong Kong, mainland China, and now the Saudi Central Bank, has reached a pivotal milestone in its development.

Central Bank Digital Currency Expansion

The addition of the Saudi Central Bank to the project signifies a significant step towards broader adoption and implementation of central bank digital currencies.

Enhanced Cooperation and Development

The launch of the minimum viable product opens up new opportunities for enhanced cooperation and the future progression of the Project mBridge initiative.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.