- DLT Based
- Research Subject
- Cost Benefits
- Liquidity Issues
Guatemala is situated in Central America. It has a high value of remittances (41 percent of national income) as people send money from overseas (USA and Mexico) – digital infrastructure is starting to alleviate the complex nature of remittances.
The USA named Guatemala as a country which would benefit from a digital infrastructure improvement, and Mastercard is committed to making getting more of their services operational in Guatemala.
The unbanked population in Guatemala is estimated to be about 50 percent.
The central bank has recognised the significance of CBDCs in a document discussing how DLTs would be used –
Introducing a CBDC probably involves more than a narrow and technical judgment on the efficiency of the payment system, although it is very important, so it is clear that they have ideas to do. The issue of digital currencies constitutes an important part of the banks’ research agenda.