With more than a year passing after the central bank of Mexico proposed plans of launching a central bank digital currency (CBDC), the project remains to be in early phases and will is not expected to come into fruition by the 2024 launch date originally projected.

Banxico is working on developing, building and testing requirements for the launch of the digital peso, with the requirements focusing on legal administrative and technological initiatives and measures. Since 2021, Mexico has been seen as quite the crypto-friendly nation, as its citizens and residents are very interested in adopting blockchain and cryptocurrency, evident in the surge of crypto activity and crypto-related search queries.

The latest announcement made by Banxico is as follows: “The result of this initial phase entails the preparation of a budget that is currently being determined, and will in turn allow establishing a probable date on which the MDBC [CDBC] will be available.”

Source:

https://cointelegraph.com/news/mexico-s-digital-peso-delayed-unclear-launch-date