Mexico's central bank is currently in the first of three stages of its peso digital launch.
to local media reports, Mexico's central bank, known as Banxico, is currently working on legal, administrative, and technological requirements for the peso's digital version. The first of three stages for the proposed launch timeline., noting on a Twitter post that the"new technologies and next-generation payment infrastructure" would improve Mexico's financial inclusion and project the launch for 2024.
"The result of this initial phase entails the preparation of a budget that is currently being determined, and will in turn allow establishing a probable date on which the MDBC [CDBC] will be available," stated the central bank of Mexico.The original plan included in the first stage the creation of the PagoCel platform, allowing users to make bank transfers using their mobile numbers or personal information.
A final stage of the project will allow participants without bank accounts to use the digital currency, thereby helping the country's financial inclusion. Mexico's interest in cryptocurrency picked up momentum in 2021, when 40% of the firms in the country were interested in adopting blockchain and cryptocurrency,installation of a Bitcoin ATM in its Senate building
, with the support of several legislators and crypto enthusiasts, Cointelegraph reported. Mexico is the second-largest recipient of remittances in the world, with transfers reaching a record $5.3 billion between July 2021 and July 2022, according to statistics from the World Bank.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Democrats keep memory of Jan. 6 alive as party looks ahead to 2024The Democratic Party is keeping the memory of Jan. 6, 2021, from fading in a bid to cast Republicans as foes of good governance who would rather sow political chaos than deliver for voters.
Read more »
John Bolton's chances of beating Trump in 2024 for GOP nominationGood Morning Britain tweeted Friday morning that Bolton had exclusively told the television program that he plans to run for president.
Read more »
Biden border visit all about 2024 posturing, immigration plan about 'streamlining illegality': criticsThe panel on Fox News Channel's 'The Five' sounded off about President Biden's upcoming visit to the border and new immigration program for Venezuelans and Cubans.
Read more »
2024 Renault Captur: Here's What We Know About The Updated Small SUV | CarscoopsThe smallest SUV in Renault's European range is up for a mid-lifecycle update, alongside a longer variant
Read more »
Joe Biden reportedly ‘all in’ and readying launch of 2024 campaignPresident Joe Biden is reportedly “all in” on a second run for the White House — with an official announcement to come within weeks.
Read more »