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This new stablecoin, called MXNB, will be issued and managed by Juno, a newly established subsidiary of Bitso.
The launch of this peso-pegged stablecoin will take place on Arbitrum. It is known for its fast and low-cost transactions.
MXNB: Boosting Latin American Trade with a Peso-Pegged Stablecoin
MXNB aims to help global companies do business more efficiently in Latin America. Unlike traditional financial systems, which are often bogged down by high fees and slow transaction times. MXNB promises a streamlined solution. It’s fully backed by Mexican pesos on a one-to-one basis. This means that for every MXNB issued, there’s an equivalent amount of pesos held in reserve.
Ben Reid, the head of stablecoins at Bitso Business, emphasized the primary purpose of MXNB: to enhance foreign investment and cross-border trade in Latin America. “Global companies face significant monetary challenges when it comes to serving customers in new markets, including high intermediary costs and inefficient transaction times,” he explained.
Bitso anuncia la creación de Juno, una nueva compañía que nace con el propósito de fortalecer la infraestructura digital y potenciar el desarrollo de stablecoins en la región.
Juno será la entidad responsable de emitir $MXNB, una stablecoin respaldada en una proporción 1:1 al… pic.twitter.com/AAlKXRGPjB
— Bitso (@Bitso) March 26, 2025
Juno will manage the stablecoin and conduct regular audits of its reserves. To ensure transparency, public attestation reports will be available on the token’s website. This is important because it helps build trust—something that’s crucial in the world of finance.
More About Stablecoins
Chairman Bryan Steil of the Digital Assets Subcommittee and Chairman French Hill of the House Financial Services Committee have introduced the STABLE Act.
TODAY: The Digital Assets Subcommittee Chairman Bryan Steil and House Financial Services Committee Chairman French Hill have officially introduced the STABLE Act, establishing a framework for the issuance and operation of dollar-denominated payment stablecoins in the US. pic.twitter.com/hAZC8li59K
— Cointelegraph (@Cointelegraph) March 27, 2025
So, this legislation aims to establish a framework for issuing and operating dollar-denominated payment stablecoins in the United States.
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