- Mexico announces the launch of it’s CBDCs.
- The National CBDC will be out by 2024.
- President of Mexico terms, they will not follow the path of El-Salvador.
Many countries are obviously planning on bringing their own National Central Bank Digital Currency (CBDC). It’s evident that adopting current technology along with the digital world, even for the finance sector, is vital. Accordingly, the government of Mexico was in long terms and talks for bringing out their own CBDC. Finally they confirmed it on December 30 via a tweet.
Mexico’s CBDC Announcement
In the early morning hours of December 30, the official government page of Mexico, put out a tweet. According to the tweet, it terms that the national bank of Mexico will have it’s own CBDC by the year 2024. Also, it insists that these CBDC’s will be circulated completely throughout.
In addition, the Government of Mexico, mentions in the tweet that adoption of future based payment solutions and technological advancements are necessary to be incorporated. Moreover, they add that this is extremely vital as this will also increase the finance income for the nation.
On the other hand, the president of Mexico, Andrés Manuel LÓpez Obrador has previously declared that their nation would not follow the footsteps of El-Salvador. In spite of this, he radically claims that they would never make Bitcoin (BTC) as legal tender. This fact indeed stirred the notion before that Mexico will be coming up with CBDCs.
Mexicans’ Mixed Views
Indeed, mixed up reviews are what we get when inquired with the people of Mexico regarding crypto. Besides, many lawyer’s say that the country should adopt crypto and digital assets in one way or the other.
On the other hand, the Mexican Billionaire Ricardo Salinas Pliego insists that the Bank of Aztec should start accepting cryptocurrencies. Predominantly, many people of Mexico and businessmen insist on complete adoption of crypto for the nation.
However, many protest that there are huge money launderings happening throughout the nation completely through crypto.