XRP
Saudi Arabia Concludes mBridge Trial as Riyad Bank Unit Explores Ripple Technology
Saudi Arabia has completed its trial with the mBridge cross-border CBDC platform while Riyad Bank's digital arm examines Ripple-based solutions.
The Saudi Central Bank (SAMA) has ended its participation in mBridge, a wholesale central bank digital currency project developed to streamline cross-border payments and reduce settlement friction. SAMA stated that it concluded its planned proof of concept on May 13, 2025, following its entry as a full participant in June 2024. The platform had reached minimum viable product status in 2024 before the Bank for International Settlements exited the initiative in October of that year.
The conclusion of Saudi Arabia's trial coincides with exploration of Ripple's technology by Jeel, an innovation unit of Riyad Bank. Jeel is evaluating Ripple for digital asset custody, tokenization, and cross-border payment corridors. Saudi institutions have historical ties to the network, including a 2018 SAMA partnership and cross-border transfer pilots between Saudi British Bank and India.
The report emphasizes that neither SAMA nor Jeel has connected the mBridge exit to Ripple, XRP, or the RLUSD stablecoin, with no evidence suggesting a direct strategy to replace the CBDC network with Ripple's products.
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