Mexico wants to ensure that it’s not left behind in the new central bank digital currency (CBDC) race. In a recent tweet, the government of Mexico announced that the country would roll out a CBDC by 2024.

https://twitter.com/GobiernoMX/status/1476376240873517061
<h2 class="typography__StyledTypography-owin6q-0 klKMNU">Mexico Joins the CBDC Race</h2>
According to a tweet from the official account of the Presidency of the Mexican government, Banco de México, the country’s central bank has shared its intention to issue its official digital currency by 2024.
<blockquote><em> “The Banxico reports that by 2024 it will have its own digital currency in circulation, considering these new technologies and the next-generation payment infrastructure are extremely important as options of great value to advance financial inclusion in the country,” </em>a translation of the original tweet read.<em>
</em></blockquote>
The plan came after President Andrés Manuel López Obrador stated that they are unlikely to follow El Salvador’s footsteps to embrace Bitcoin as a legal tender.

If the Banco de México successfully implements a CBDC in the coming years, it will be one of many central banks to do so. Other banks that have created a CBDC or are in the process of doing so include China, Nigeria, and Sweden amongst others.

Recently, the third-richest man in Mexico Ricardo Salinas Pliego convinced his Twitter followers to buy Bitcoins instead of fiat currency. <em>“Steer clear of fiat money. Whether it’s the Dollar, the Euro, or the Yen it’s all the same,”</em> he tweeted.

Earlier this m0nth, the Mexican retail giant, Elektra which is owned by Salinas became the first retail store in Mexico to accept Bitcoin payments.

Mexican Central Bank Plans CBDC Rollout in 2024

In a recent tweet, the government of Mexico announced that the country would roll out a new central bank digital currency (CBCD) by 2024.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Mexican Central Bank Plans CBDC Rollout in 2024

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