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Saudi Arabia ends mBridge CBDC project but explores Ripple for payment innovations.

Market News
20 Sep 2026
Blockonomi
View Source
Neutral
Saudi Arabia ends mBridge CBDC project but explores Ripple for payment innovations.

Saudi Arabia officially ended its participation in the mBridge project, a China-linked wholesale central bank digital currency (CBDC) initiative, after completing its proof of concept in May 2025. The project aimed to improve cross-border settlements between banks but was described as a payment-efficiency effort rather than a political move to bypass the US dollar. Concurrently, Riyad Bank's innovation arm, Jeel, is exploring blockchain applications with Ripple, including payment corridors, digital asset custody, and tokenization, though no direct link to XRP or RLUSD tokens has been confirmed. These developments indicate Saudi Arabia is experimenting with multiple digital payment technologies rather than replacing one system with another.

XRP on Pluang is priced at Rp24.406 with a 3.97% drop in the last day as of Sep 20, 2026, 21:01 WIB. This coincides with Riyad Bank's exploration of blockchain applications with Ripple, highlighting ongoing interest in digital payment technologies. The market cap of XRP stands at Rp1.539,85 trillion, with a 24-hour trading volume of Rp56,33 trillion, reflecting active trading despite recent price declines.

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