Saudi Arabia’s sudden exit from Project mBridge—the Beijing-led digital currency initiative aimed at de-dollarization—marks a significant pivot in global geopolitics. By stepping away from China’s alternative cross-border payment system, Riyadh has effectively reaffirmed its reliance on the U.S. dollar and the traditional petrodollar architecture. This strategic retreat highlights the limits of Saudi Arabia's diplomatic pivot to Beijing. Faced with escalating regional security threats from Houthi forces and China's evident reluctance to intervene militarily, the Kingdom has had to prioritize its immediate defense needs over its long-term financial diversification. Amid reports that Houthi rebels are utilizing Chinese-manufactured missile technology, Riyadh's short-lived financial experiment with Beijing has hit a wall. Ultimately, when survival is on the line, Saudi Arabia has recognized that its ultimate security guarantee still rests firmly with Washington.

RUSSIA, INDIA EXPLORE DIGITAL CURRENCY TRADE SETTLEMENTS Russia and India’s central banks are working on a mechanism to use digital currencies for bilateral trade payments, according to Sberbank CEO Herman Gref. The initiative could enable faster cross-border settlements and reduce reliance on SWIFT, as BRICS members explore closer payment-system integration. Russia and India aim to expand bilateral trade to $100 billion by 2030.