Status : Research
The Banco de Guatemala has announced the development of a central bank digital currency (CBDC) called iQuetzal, named after the country’s fiat currency. However, the central bank is taking a cautious approach and is not rushing to integrate the new digital currency into their existing financial system. The committee responsible for the CBDC project was formed only six months ago and is still in the research and investigation phase. It is unclear when the project will be completed, as the investigation is ongoing as of December 2022. The information sources for this summary are Banco de Guatemala and Atlantic Council Research.
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