Banxico hasn’t yet announced a launch date for the Mexican digital peso, although it previously predicted its appearance in 2025. At the end of 2021, Mexico's central bank announced its intention to create a state cryptocurrency. It was originally supposed to be ready by 2024, but then the deadline was changed to 2025. Now the staff is not sure when it will be done. It is obvious that work is currently underway to meet technological requirements and develop administrative and legal regulations for digital currency.
The bank issued a statement that after this initial stage is completed, they will "set a budget and determine a possible launch date." The first phase was to create the PagoCel platform, which would allow people to use mobile apps and personal information for electronic money transfers, and the second phase would connect the SPEI interbank payment system. Besides, the final stage of development was supposed to provide access to citizens who do not have bank accounts. Turkey has already completed testing its own digital lira at this stage, while Mexico is still working on its version. Banxico has not yet confirmed when Mexico's digital peso will be introduced. Currently, the participants in the process are not sure when it will take effect, as there are many technical requirements that need to be met, as well as administrative and legal changes required before launching.
