An update on the mBridge project posted on the BIS official website shows that 23 central banks, as well as the International Monetary Fund (IMF) and the World Bank, are observing the initiative. So far, 11 out of 25 observing members have participated in the sandbox, which allows participants to simulate mBridge nodes and transactions.
mBridge has an Asian/Middle Eastern bias, and observed members show the same pattern. Its participants come from all continents, with six from Asia (Indonesia, South Korea, Malaysia, Nepal, Philippines, Turkey) and five from the Middle East (Bahrain, Egypt, Jordan, Israel, Saudi Arabia).
The United States is represented by the New York Innovation Center, which is part of the Federal Reserve Bank of New York. There are also five EU member states among mBridge observers, including very influential members.
In addition, mBridge plans to launch a minimum viable project by the middle of next year.