Mexico’s central bank will have its own digital currency in circulation by 2024 as part of efforts to boost financial inclusion.
“These new technologies and next-generation payment infrastructure are extremely important,” the federal government posted late Wednesday on its Twitter account, confirming the bank’s plan.
El @Banxico informa que hacia 2024 tendrá una moneda digital propia en circulación, por considerar de suma importancia estas nuevas tecnologías y la infraestructura de pagos de última generación como opciones de gran valor para avanzar en la inclusión financiera en el país.
— Gobierno de México (@GobiernoMX) December 30, 2021
Central banks around the world are developing similar alternatives to cryptocurrencies such as Bitcoin. In Mexico, financial regulation blocks banks from dealing with them. Outgoing Banco de Mexico Governor Alejandro Diaz de Leon said in a Dec. 21 interview that policymakers were looking at a digital currency issued by the central bank.
