The Bank of Mongolia Joins the mBridge Project as a Full Member and Becomes Part of the Steering Committee

During the meeting held on June 9, 2026, between Governor of the Bank of Mongolia Mr. S. Narantsogt and Governor of the People’s Bank of China Mr. Pan Gongsheng, the Bank of Mongolia officially joined the mBridge project as a full member. The membership agreement was signed by Mr. E. Anar, Director of the Payment Systems and Technology Department of the Bank of Mongolia. With this accession, the Bank of Mongolia has also become a member of the project’s Steering Committee.

The mBridge project is a pioneering international initiative jointly developed by the Bank for International Settlements (BIS), the Hong Kong Monetary Authority, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People’s Bank of China, the Bank of Thailand, and the Saudi Central Bank. The project aims to enable real-time cross-border payments using central bank digital currencies (CBDCs) through a shared platform based on distributed ledger technology (DLT). It is expected to reduce payment costs, increase transaction speed, and improve operational efficiency.

To date, more than 30 central banks and international organizations have participated in the project as observer members. The Bank of Mongolia’s accession as a full member marks a significant step forward, granting it the same rights and responsibilities as the founding members. As a member of the Steering Committee, the Bank of Mongolia will contribute to the project’s governance, strategic direction, policy development, and key decision-making processes.

The Bank of Mongolia’s membership in the mBridge project represents an important step toward modernizing Mongolia’s cross-border payment infrastructure, strengthening cooperation on central bank digital currencies (CBDCs), and enhancing the country’s integration into the global financial system.