What's in this article
Mexico’s Central Bank, Banxico, has unveiled plans to roll out its Central Bank Digital Currency or CBDC in less than half-a-decade from now. In a tweet sent out Wednesday, the Mexican government says it “will have a digital currency of its own in circulation” by 2024 having seen the “utmost importance [of] these new technologies and state-of-the-art payment infrastructure as options of great value to advance financial inclusion in the country.”
Banxico’s deputy governor, Jonathan Heath said earlier in a video conference that Banxico should have its CBDC “by the end of 2024, at the latest.”
“We’re going to have the use of paper money as the preponderant payment domestically for a long time, so we don’t want to be absent from these technological advances,” He added.