CBDC Field Research Insights for the 2023 Report, “CBDC: Expanding Financial Inclusion or Deepening the Divide? Exploring Design Choices that Could Make a Difference”

In our project, we looked at family remittances between the United States and Mexico, the third-largest remittance corridor worldwide by volume, after China and India. By family remittances, we mean cross-border transfers of funds that originate from a sender to a beneficiary. The sender is a migrant worker (documented or undocumented, Mexican-born or offspring with at least one parent born in Mexico), who sends a share of their income—around 20% of their wage, or an average US$370 per month, in two or three installments—across the border. Beneficiaries are family members, typically women—mothers, close relatives, or spouses.