Mexico central bank plans to launch CBDC by 2024

The Bank of Mexico, Banxico, aims to introduce a central bank digital currency by 2024, the Mexican government wrote in a tweet on Wednesday evening. "The @Banxico reports that by 2024 it will have its own digital currency in circulation, considering these new technologies and the next-generation payment infrastructure are extremely important as options of great value to advance financial inclusion," the tweet says, according to Google translate. Mexico joins both Brazil and Peru as Latin American nations working on developing CBDCs, CoinDesk notes. Additionally, "we're going to have the use of paper money as the preponderant payment domestically for a long time, so we don't want to be absent from these technological advances," EL CEO cited Banxico Deputy Governor Jonathon Heath in a video conference. Meanwhile, bitcoin (BTC-USD -1.4%) and ethereum (ETH-USD -2.1%) slump intraday. In mid-November, Nigeria's CBDC attracted 500K users just weeks after it launched.