Bitso Launches Mexican Peso Stablecoin on Arbitrum: A New Era for Latin American Finance

Bitso, one of the largest cryptocurrency exchanges in Latin America, has unveiled MXNB, a stablecoin pegged to the Mexican peso. This launch is part of Bitso’s broader strategy to integrate blockchain technology into financial services, with a focus on cross-border payments and remittances. The stablecoin will be issued through Juno, Bitso’s new subsidiary created for digital asset management and stablecoin issuance.

💡 Why Launch a Mexican Peso Stablecoin?

Stablecoins are cryptocurrencies that are pegged to real-world assets like the U.S. dollar, making them more stable than other volatile cryptocurrencies like Bitcoin or Ethereum. Bitso’s MXNB aims to bring the Mexican peso into the digital age by offering a stablecoin fully backed by pesos at a 1:1 ratio.

This is especially important for Latin America, which sees billions of dollars in remittances every year. For example, remittances to Mexico are projected to hit a record $65 billion in 2024. With MXNB, Bitso hopes to make these transactions faster, cheaper, and more efficient for individuals and businesses alike.

⚙️ Built on Arbitrum for Efficiency and Low Fees

MXNB will be launched on Arbitrum, an Ethereum Layer 2 solution that improves transaction speed and reduces costs, while still maintaining the security of the Ethereum blockchain. Arbitrum uses optimistic rollups—a technology that processes transactions off-chain before bundling them and submitting them to Ethereum’s mainnet for validation.

For Bitso, Arbitrum’s low fees and fast transaction times are key. This is especially beneficial for Latin American institutions, which often struggle with slow and expensive traditional financial systems for cross-border payments. By utilizing Arbitrum, Bitso aims to offer a faster and more cost-effective alternative to traditional financial intermediaries like banks.

💸Key Use Cases of MXNB

1. Cross-Border Payments

MXNB facilitates cross-border payments without relying on traditional financial institutions, allowing businesses to settle transactions quickly and at lower costs.

2. Remittances

Mexico is one of the world’s largest recipients of remittances, with billions of dollars sent annually from the U.S. By using MXNB, remittance services can offer more affordable and faster alternatives to traditional money transfer methods, which often come with high fees and long processing times.

3. Fintech Integration

MXNB provides opportunities for Mexican fintech companies to build new products such as savings accounts and digital wallets, based on the Mexican peso. This can help foster a more decentralized economy free from the limitations of traditional banking systems.

4. Digital Payments

Payment service providers can integrate MXNB into their platforms, offering faster, cheaper, and more efficient digital payments. This is especially significant in a region where high transaction costs and slow payment systems are common barriers to business growth.

🔑 Juno: Bitso’s New Subsidiary for Digital Assets

To manage the issuance and exchange of MXNB, Bitso has launched Juno, a new subsidiary focused on stablecoin operations. Juno will be responsible for:

• Managing reserves
• Ensuring transparency
• Maintaining high standards of custody for digital assets.

Ben Reid, the Head of Stablecoins at Bitso, emphasized the importance of stablecoins for improving financial services, stating, “MXNB enables global companies to do business in LatAm more efficiently, and Juno will be crucial in issuing and exchanging digital tokens that foster regional opportunities.”

🚀 The Future of Stablecoins in Latin America

The launch of MXNB comes at a time when the stablecoin market is expanding rapidly. With over $230 billion in market capitalization as of March 2025, stablecoins are increasingly seen as a solution to the inefficiencies of traditional financial systems.

Bitso is positioning itself as a leader in this market, particularly in Latin America, where demand for more efficient financial solutions continues to grow. Arbitrum’s support is also essential for scaling MXNB, providing a low-cost and secure platform for businesses and individuals in the region.

By offering a stablecoin backed by the Mexican peso, Bitso is enabling businesses and consumers to conduct cross-border transactions and manage digital payments more efficiently. Through Juno and its partnership with Arbitrum, Bitso is set to play a pivotal role in the evolving stablecoin ecosystem in Latin America and beyond.

⚡ TL;DR

• Bitso launches MXNB, a stablecoin pegged to the Mexican peso, aimed at improving cross-border payments and remittances in Latin America. 💸
• The stablecoin is backed by Mexican pesos at a 1:1 ratio, offering a stable digital asset for the region. 💰
• Built on Arbitrum, MXNB offers faster and cheaper transactions compared to traditional financial systems. ⚡
• Key use cases include cross-border payments, remittances, fintech integration, and digital payments. 🌎
• Juno, Bitso’s new subsidiary, will manage the operations of MXNB, ensuring transparency and security. 🔐
• With the growth of the stablecoin market, Bitso is positioned to lead Latin America’s digital transformation in finance. 🌟