Fintech
Saudi Central Bank joins mBridge
Saudi Arabia’s central bank has joined the mBridge project, the Bank for International Settlements’ (BIS) cross-border central bank digital currency, after serving as an observer member.
On June 5, mBridge members also launched the “minimum viable product” version of the project, a prototype to enable instant cross-border wholesale payments. Several private sector financial institutions are ready to start participating in the project, mBridge members have announced.
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