5 Hrs
Source:
الاقتصادية
Saudi Central Bank concludes Em Bridge in 2025
The Saudi Central Bank, "SAMA," confirmed that its participation in the "E-M Bridge" project for central bank digital currencies (CBDCs) concluded in 2025, following the completion of a proof-of-concept trial on May 13 of the same year. SAMA's involvement was limited from the start; it joined the project in June 2023 as an observer and participated only modestly in testing the technical viability and effectiveness of CBDCs in accelerating cross-border payments within a testing environment, without conducting real transactions. The bank did not take part in subsequent phases of the project. This decision to end participation aims to evaluate the use of digital currencies and address the associated political and technical challenges, as Saudi Arabia continues to explore the applications of digital assets and currencies.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)