Mexico is set to establish a new national central bank digital currency (CBDC) in 2024, which will help the country become more financially inclusive.
Mexico will establish a new CBDC in 2024
According to a tweet sent on Thursday, Mexico has declared that it would launch a new national central bank digital currency (CBDC) in 2024.
The Mexican presidency’s account tweeted that “new technology and next-generation payment infrastructure” will help the country become more financially inclusive.
ElĀ @BanxicoĀ informa que hacia 2024 tendrĆ” una moneda digital propia en circulaciĆ³n, por considerar de suma importancia estas nuevas tecnologĆas y la infraestructura de pagos de Ćŗltima generaciĆ³n como opciones de gran valor para avanzar en la inclusiĆ³n financiera en el paĆs.ā Gobierno de MĆ©xico (@GobiernoMX)Ā December 30, 2021
The idea of a CBDC follows President AndrĆ©s Manuel LĆ³pez Obrador’s recent remark that Mexico will not follow El Salvador’s lead and adopt cryptocurrencies like Bitcoin (BTC) as legal tender.
At least two Mexican politicians have proposed that the country embrace digital assets in order to lead the “transition to crypto and fintech.”
Banco Azteca is considering accepting cryptocurrency
Banco Azteca has also announced that it might consider accepting cryptocurrency, according to Ricardo Salinas Pliego, a millionaire and one of Mexico’s wealthiest individuals.
The billionaire recently asked his 957,200 Twitter followers to leave fiat money behind and invest in BTC in a two-minute celebratory video, asking them to retweet and share the message.
Despite the fact that many people in the public and private sectors support crypto, officials in the country claimed in 2020 that cartels were utilizing digital currencies to launder money.
With the growing popularity of cryptocurrencies around the world, it’s no surprise that governments around the world, including Mexico, are considering forming a CBDC.
The Central Bank of Indonesia believes that digital copies of national currencies could be a useful weapon in combating the growing use of cryptocurrencies, according to Cointelegraph.
