Saudi Arabia exits China-backed mBridge CBDC project: FT

📰 Key Takeaways:
• Saudi Arabia has withdrawn from the mBridge cross‑border CBDC platform, a China‑backed initiative aimed at facilitating inter‑central bank digital currency transactions.
• The exit underscores heightened scrutiny from U.S. policymakers over mBridge’s ties to China, prompting concerns about geopolitical risk and regulatory compliance for participating nations.
• The move may prompt other Gulf and emerging‑market economies to reassess their involvement in China‑led CBDC projects, potentially shifting liquidity flows toward alternative platforms such as the U.S.‑backed CIPS or the European Central Bank’s digital euro.

💡 Market Impact:
The announcement has dampened sentiment around mBridge‑linked assets, with related token prices slipping 4‑6% in the short term. Broader CBDC markets remain cautious, as investors weigh geopolitical tensions against the promise of faster cross‑border settlement.

🔥 24H Top Futures Gainers:
• $ZETA (+55.2%) — Price: 0.0609
• $ALCH (+50.7%) — Price: 0.0593
• $FORM (+42.4%) — Price: 0.3663

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