According to the news of La República, a Peruvian local media; In Peru, it started working towards issuing a digital currency. The new digital currency will focus primarily on payments.

Speaking at the 59th Annual Administrative Summit held online, Peruvian Central Bank Governor Velarde emphasized that establishing a CBDC in the future is a necessity.

Velarde, Governor of the Central Bank of Peru, said:

   We are working on a digital currency. We are involved in many projects with India, Singapore, Hong Kong and many central banks. We think that digital currencies will be a necessity in the future.

It is said that digital currency studies are gaining momentum in Latin America, especially in Brazil and Mexico. While President Velarde underlined that there will be significant changes, especially in terms of payments, according to the information conveyed, there are not enough resources in the country for the completion of this project for now.

There is no legal framework for digital or cryptocurrencies in Peru, which is known to have not welcomed this new sector before. To date, it is known that, in addition to China's aggressive digital currency moves, El Salvador also accepts Bitcoin as the official currency.