MEXICO: PREPARATIONS FOR A DIGITAL CURRENCY
In Mexico, cryptocurrency adoption continues to rise, with Bitcoin dominating the domestic market with a 99.5% share. Bitso, the main Mexican exchange, has a 40.7% share of the Latin American market.
"Although no bank accepts payments with cryptocurrencies and only some businesses have implemented it, one of its main uses is sending remittances to Mexico from the United States," highlights Kaiko, a market research firm.
In 2021, the Bank of Mexico (Banxico) announced the launch of its own digital currency, now planned for 2025.
"Banxico plans to launch its own central bank digital currency; although current governor Victoria Rodríguez Ceja said that it will not be until 2025 when it will operate in the country," notes a report.
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