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CBDC or central bank digital currency is being scrutinized by most of the nations. Although several countries see no potential in assets like Bitcoin, they believe that their national digital currency helps them evolve. Following the scenario, Mexico has joined the race with other nations. Recently, the country announced that it would introduce a new national central bank digital currency by 2024. Moreover, in a recent tweet, the national presidency also highlights that new tech and next-generation payments infrastructure will help the nation become more financially inclusive.
CBDC would make Mexico more financially inclusive
The Mexican presidency has announced that the nation would have its CBDC by 2024. In the official announcement, the government also underscored that latest technologies and the millenial payment infrastructure would potentially make them more financially inclusive.
The plans to launch a central bank digital digital currency follows the recent statement by president Andrés Manuel López Obrador. According to his statement, Mexico is unlikely to follow El Salvador’s footsteps to embrace the flagship cryptocurrency. Hence, they will launch their national digital currency.
Mexico speareads the shift to crypto and fintech
Two Mexican lawmakers have suggested that the nation needs to embrace digital currency. Such measures would help Mexico to spearhead the shift to cryptocurrency and Finandiac Tcehnology. According to Ricardo Salinas Pliego, one of the nation’s wealthiest person, Banco Azteca should consider accepting digital currency. Notably, in a couple of minute festive video, the billionaire underscored that the nation should leave fiat money behin and invest in Bitcoin, and asked its followers to retweet and share the message.
Crypto assets is being heavily used by illicit players
Cryptocurrency sector has witnessed mainstream attention since the beginning of this year. Following the performance of projects over the year, several are also found being incredibly bullish for 2022. However, several individuals and institutions are advocating the crypto ecosystem, national agencies and authorities are concerned. Accoridng to financial regulators, cartels are using crypto to launder money.
Following the growing popularity and mainstream adoption of Web3.0 ecosystem, it should be no surprize that the government globally are considering to establish their CBDC. Notably, the Central Bank of Indonesia believes that crypto version of their fiat currency could be valuable weapon to fight the growing adoption of other crypto assets, like Bitcoin and Ethereum.
