Saudi Arabia ends its involvement in the mBridge CBDC experiment, fueling speculation about a pivot to Ripple-based payment infrastructure despite a lack of confirmed XRP adoption.
Article speculates on potential XRP benefit from Saudi Arabia leaving mBridge but notes no direct evidence of XRP adoption.
The Saudi Central Bank (SAMA) has concluded its participation in the mBridge multi-CBDC project following a planned proof-of-concept phase. While the exit has sparked speculation regarding a shift toward private-sector blockchain solutions like Ripple, there is currently no evidence that the Kingdom is replacing the CBDC platform with XRP or related assets.
There is no evidence of a direct replacement. While Saudi Arabia is exploring blockchain through a partnership with Ripple via Jeel, the mBridge exit was described as the planned conclusion of a proof-of-concept experiment.