Mexico has announced that it would introduce a new national primal banking company digital currency (CBDC) in 2024, according to a tweet posted on Thursday. The tweet by an account representing the Mexican presidency highlighted that "new technologies and next-generation payment infrastructure" will aid Mexico become more financially inclusive.

The plans for a CBDC follow the recent argument past Mexico'south President Andrés Manuel López Obrador that Mexico is unlikely to follow Republic of el salvador's footsteps and use cryptocurrencies like Bitcoin (BTC) as legal currency.

Related: Bitcoin transactions 'akin to bartering,' Banking concern of Mexico governor says

At least ii lawmakers in Mexico have suggested that the country comprehend digital assets to spearhead the "shift to crypto and fintech." Ricardo Salinas Pliego, a billionaire and ane of Mexico's wealthiest men, has also stated that Banco Azteca would consider accepting cryptocurrencies. In a two-minute festive video, the billionaire recently called on his 957,200 Twitter followers to exit fiat money backside and invest in BTC, request them to retweet and share the message.

Although numerous people in the public and business sectors advocate the apply of crypto, authorities in the nation stated in 2022 that cartels were using digital currencies to launder coin.

With the growing popularity of cryptocurrencies, information technology should come as no surprise that governments worldwide, including Mexico, are because establishing a CBDC. As reported by Cointelegraph, the Central Bank of Indonesia thinks that digital versions of national currencies could exist a valuable weapon to combat the growing adoption of cryptocurrencies.