MBridge

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mBridge (a.k.a. Multiple CBDC Bridge) is a multiple central bank digital currency platform developed to support real-time, peer-to-peer, cross-border payments and foreign exchange transactions using CBDCs. Based on a blockchain called the mBridge Ledger, the platform is designed to ensure compliance with jurisdiction-specific policy and legal requirements, regulations, and governance needs. Currently four entities are jointly developing mBridge. They are the Hong Kong Monetary Authority, the Bank of Thailand, the Central Bank of the United Arab Emirates, and the Digital Currency Research Institute of the People's Bank of China. The Bank for International Settlements Hong Kong Centre ended its involvement in 2024, while the Saudi Central Bank left the project in 2026, both under pressure from the Trump administration.