Private banks offer to help design digital currency in Mexico

The Mexican president's official account reported on the creation of a digital version of the peso back in January

28.02.2022 - 11:00

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What’s new? The members of the Association of Banks of Mexico (ABM) have announced their intention to help the country's central bank develop and issue a potential central bank digital currency. The President of the association, Daniel Becker met with Banco de México Governor Victoria Rodriguez Seja to address important factors related to increasing the availability of banks for Mexican citizens.

Information on the Forbes Mexico website

What does the president of ABM say? Becker approved the introduction of digital currency to reduce transaction fees and achieve better compatibility using blockchain. He added:

“If Banxico determines that the banking opinion can help build better elements or a cryptocurrency, count on us and the best banking opinion so that it is something that provokes and has a more efficient and robust financial system that reaches more Mexicans as a consequence.”

What is the situation with cryptocurrencies in Mexico? Mexico is one of the countries with the lowest coverage of banking services among the population. Many believe that cryptocurrencies and their implementation in the country can improve access to financial services. . At that time, he said the bank had plans to issue a CBDC and named 2024 as the deadline for this development. That is why private banks are contacting the Central Bank of Mexico with a request to include them in the planning phase of the future digital currency.

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