El Salvador marked a historical process with its Bitcoin Law, a phenomenon that is driving progress towards the digitization of the economies of other Central American countries. Honduras is in the research for feasibility, and risk-benefit analysis phase of a digital currency project. While Guatemala has already decided on the name of its future CBDC.

The president of the Central Bank of Honduras, Wilfredo Cerrato, expressed his commitment to “determine the viability of conducting a pilot test issuing its own digital money or a digital currency of the central bank” and urged the highest monetary authority in the region, the Council Central American Monetary, to participate in the initiative.

Meanwhile, the vice president of the bank of Guatemala, José Alfredo Blanco, said that his country plans to name its “future CBDC: iQuetzal, the same as its fiat currency.” Although he stressed that there is a group of people working on the project since the beginning of the year, “they will not rush in its development.”

For its part, the Bahamas plans to approve its Sand Dollar in a few months, while Jamaica is already experimenting “with its own digital currency.”

At the global level, the latest development of a digital currency is being carried out by Nigeria, which plans to launch its eNaira on October 1st. This African country has experienced an acute crisis that forced the inhabitants to take refuge in “decentralized cryptocurrencies” to protect their resources. With the launch of this currency, the authorities are trying to incorporate citizens “into the national system with a digital alternative.”

M. Rodríguez

Source: cripto247.com

La entrada Honduras and Guatemala seek digital options for their financial system apareció primero en Bitfinance.