23 Hrs
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الاقتصادية
Saudi Central Bank conclude EM Bridge in 2025
The Saudi Central Bank "SAMA" confirmed that its participation in the "e-M bridge" project for central bank digital currencies was completed in 2025, following a proof-of-concept experiment conducted on May 13 of the same year. SAMA initially acted as an observer in the project starting in June 2023, aiming to assess the feasibility of using digital currencies to improve cross-border payment efficiency through a testing environment without real financial transactions. It did not join subsequent phases after the testing was finished. Instead, the focus was on exploring potential applications of digital currencies and cryptographic technologies, as well as evaluating their impact on payment systems and the financial industry. Saudi Arabia's move comes after previous experiments with digital currencies conducted with the UAE and involves developing regulatory and technological strategies for digital assets.
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