Mexico’s central bank will release its digital currency by 2024, the Mexican government announced on social media.
“Banxico [Mexico’s central bank] reports that it will have its own digital currency in circulation by 2024,” the Mexican government wrote late on Wednesday on its official Twitter account.
The post said the central bank “considers that these new technologies and the latest payment infrastructure are very important as valuable options to advance financial inclusion in the country.”
Mexico’s central bank, which is legally independent of the government, has not confirmed the news yet.
A senior central bank source, who requested anonymity, told the Reuters news agency on Thursday that the government announcement was “not official.”
In a report published on December 17, Banxico said it is working on the development of a platform aimed at the implementation of a digital currency, but it gave no details on timing.
“The project has among its objectives the opening of accounts for the registration of a digital currency for both banked and unbanked people, thereby contributing to financial inclusion,” the report added.
Several central banks around the world are exploring the launch of digital currencies, fearing that cryptocurrencies like bitcoin could weaken government control of monetary policy.
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