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IPFS News Link • Mexico

Bank Of Mexico Announces Its Own Central Bank Digital Currency By 2024

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Mexico Plans a Digital Currency by 2024

Please consider Bank of Mexico Plans to Launch Digital Currency by 2024.

The Bank of Mexico plans to put its own digital currency in circulation by 2024 to use the latest payments technology to foment financial inclusion in an economy that relies on cash for most transactions, according to the Mexican government.

The central bank considers it important "to use these new technologies and latest-generation payments infrastructure as valuable options to advance financial inclusion in the country," the administration of President Andrés Manuel López Obrador said in a tweet late Wednesday.

The Bank of Mexico has said it is studying the development of a digital currency in several phases. It will use as a basis for the platform the current electronic payments system to expand payment options "under a rapid, safe and efficient" framework, the bank said in a recent report.


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