Mexico CBDC

MEXICO PLANS CBDC FOR 2024

CBDCNews
··1 min read

Mexico is the latest country to announce its plans to implement a central bank digital currency (CBDC). The official Twitter account of the Mexican government recently reported that the Central Bank of Mexico plans to have its own digital currency in circulation by 2024.

It went on to state that it sees the “next-generation technology” as a step towards greater financial inclusion.

There has not been any indication as to which technology the Mexican CBDC will use. Some sovereign nations have already launched or plan to launch their CBDCs on existing blockchains. For example, Bhutan recently confirmed that it will use a private version of the XRP Ledger for its CBDC. The Central Bank of the Bahamas also launched a digital version of their currency with the assistance of Algorand.

What’s your take on CBDCs? Will they aid financial inclusion, or do they have the potential to create a dystopian nightmare?

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