MEXICO CITY: Victoria Rodriguez Ceja, Governor of the Central Bank of Mexico (Banxico), announced that the country will begin to operate a digital currency in 2025.
The digital currency will seek to generate means of payment aimed at financial inclusion; expand options for fast, secure, efficient and interoperable payments; and implement competitive features to payment methods, Xinhua news agency quoted the Governor as saying before a Senate Finance Committee.
"We estimate that the final operation process will take about three years and will be aimed at banked and unbanked people, expanding payment possibilities, " she explained.
Ceja also said that the digital currency will comply with three basic characteristics: a means of payment, a unit of account and a store of value, and will coexist with physical bills and coins circulating across the country.
Banxico had earlier announced plans for a digital currency two years ago.