Recently, Rodrigo Kuri, executive director of digital strategy of the National Bank of Mexico (CitiBanamex), said that this institution is interested in using the benefits of Blockchain Technology for its services.

According to Kuri , CitiBanamex has no interest in cryptocurrencies, but sees the potential of blockchain Technology to improve its transaction services. ” Cryptocurrencies do not, but blockchain is something that we will analyze as a consensus protocol for transactions,” he said.

Kuri also stated that CitiBanamex will work with other financial technology companies (fintech) through its ” Transfer ” platform to study the development of payment methods.

Kuri explained that the objective of this bank, the second largest bank in Mexico, is that, in the short term, half of its clients use some of its digital services, since for now only 20% of its clients use them, In this sense, blockchain technology could help the bank improve the digital services it provides to its customers.

And, according to Kuri, CitiBanamex is in a moment in which it attaches great importance to the development of its digital environment. Therefore, it makes sense that this bank has put its sights on blockchain technology, since it is capable of providing greater transparency, security and efficiency to a wide variety of digital solutions.

Last March, the so-called “Fintech Law” was approved in Mexico, which aims to regulate the services provided by the Financial Technology Institutions. Within these services is the commercialization of  cryptocurrencies , defined by the law under the figure of virtual assets, for which this law is seen as a facilitator of competitiveness in the sector, considering new types of non-traditional values, such as they are the cryptoactives. In recent days, the Bank of Mexico announced that it will submit to public consultation the legal provisions of said law regarding the field of digital assets.