Bitso has announced the launch of a new stablecoin pegged to the Mexican peso, to be released on the Arbitrum platform. A newly established subsidiary of Bitso, Juno, will manage this stablecoin.
MXNB Stablecoin Launch
MXNB will be used to simplify financial operations in Latin America. The stablecoin will be fully backed by Mexican pesos on a one-to-one basis, ensuring its reliability and stability.
MXNB's Goals in Latin America
MXNB aims to support global companies in doing business more effectively in Latin America by offering lower fees and faster transactions compared to traditional financial systems.
New Stablecoin Legislation in the US
Chairmen Bryan Steil and French Hill of the House Financial Services Committee have introduced the STABLE Act in the US, establishing a framework for issuing dollar-denominated stablecoins.
Bitso's launch of MXNB on the Arbitrum platform represents a significant step forward in developing digital financial infrastructures to support trade in Latin America, while new legislation in the US aims to regulate the stablecoin market.
