<ul><li>Bitso Business, an arm of the Mexican crypto exchange Bitso, will launch a Mexican peso-pegged stablecoin on the Ethereum layer-2 network Arbitrum.</li><li>The stablecoin, MXNB, will be issued and managed by Bitso’s subsidiary Juno and will be fully fiat-backed by Mexican pesos on a one-to-one basis.</li><li>The primary use case for MXNB is to promote foreign investment and trade in Latin American economies, providing a more efficient way to do business compared to traditional finance infrastructure.</li><li>Mexico, being a significant country for cryptocurrency-based remittances, is also experiencing increased crypto transaction value and stablecoin purchases in response to challenging macroeconomic conditions.</li></ul>

Bitso to launch Mexican peso-pegged stablecoin on Arbitrum

Discover more