Central Bank of Mexico to launch digital currency by 2024 | New Technologies

The central bank sees technology as very important for financial inclusion, the Mexican government wrote on Twitter.

The central bank of Mexico will have its digital currency by 2024, the Mexican government announced on social media, although the development was not confirmed by the monetary authority, known locally as Banxico. “Banxico has announced that it will have its digital currency in circulation by 2024,” the Mexican government wrote on its official Twitter account on Wednesday night.

The post office said the central bank “believes that these new technologies and the latest payment infrastructure are very important as a valuable opportunity to advance financial inclusion in the country.”

But a central bank source, who asked for anonymity, told Reuters on Thursday that the government’s announcement was “unofficial”.

The @Banxico reported that it will have its digital currency in circulation by 2024, given that these new technologies and next-generation payment infrastructure are of paramount importance to the country’s valuable opportunities for financial inclusion.

– Government of Mexico (@GobiernoMX) December 30, 2021

The Central Bank of Mexico is legally independent of the government.

Banxico and the Mexican government did not immediately respond to Reuters’ requests for comment.

In a report released on December 17, Banxico said: “He is working on the study and development of a platform aimed at implementing a digital currency,” but did not give details about the time.

“One of the aims of the project is to open accounts for the registration of digital currency for bankers and non-bankers, thus contributing to financial inclusion,” the report added.

Several central banks around the world are considering launching digital currencies because cryptocurrencies like bitcoin could weaken government control over monetary policy.