The Mexican government recently announced that the central bank of Mexico plans to launch its own digital currency by 2024. In a social media post, the Mexican government stated that Banxico, the monetary authority of Mexico, considers new technologies and payment infrastructure essential for advancing financial inclusion in the country. However, Banxico has not officially confirmed the development, as it is legally independent of the government.
Meanwhile, the central bank of India also expressed the need to adopt a basic model for its own central bank digital currency (CBDC). In a report, the Reserve Bank of India (RBI) emphasized the importance of testing comprehensively to minimize impact on monetary policy and the banking system. The RBI highlighted potential benefits of a CBDC, including liquidity, scalability, faster settlement, and ease of transactions with anonymity for users.
