Bitso Launches Mexican Peso-Pegged Stablecoin on Arbitrum Network

Highlights:

• Bitso launches MXNB, a Mexican peso-pegged stablecoin, on Arbitrum.
• Juno’s platform provides tools to businesses for stablecoin issuance and management.
• The collaboration with Arbitrum ensures cost-effective and fast transactions for global businesses.

Bitso, a Mexican-based cryptocurrency exchange, has entered the stablecoin markets with the launch of its new stablecoin, MXNB, pegged to the Mexican peso. The stablecoin is fully backed by fiat reserves, and it will operate under Juno, a recently established affiliate of Bitso. This intends to enhance the cross-border payments and enable the efficiency of transactions in the Latin America region.

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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

Bitso’s Strategic Move with Juno and MXNB

The firm has set up Juno to oversee its stablecoin initiative. MXNB is Juno’s first project that integrates with the Mexican peso at a 1:1 ratio. To facilitate fast and cheap transactions, the token is based on Arbitrum, which is an Ethereum layer 2 solution. MXNB aims to become a faster and efficient way of undertaking transactions across borders compared to traditional financial systems.

Ben Reid, the Head of Stablecoins at Bitso Business, asserts that MXNB would enable global businesses to do operations in Latin American markets more effectively. The stablecoin helps to resolve issues typically encountered in international business, including high intermediaries’ costs and long transaction durations.

Juno Mint Platform to Facilitate Adoption

In order to support the utilization of MXNB, Juno released the Juno Mint Platform. This platform offers APIs and tools to enable firms to issue, redeem, and swap MXNB. Besides, it works with SPEI, Mexico’s banking system, providing users with fiat on- and off-ramp services. It also enables the business to easy the transactions between stablecoins and Mexican pesos.

The collaboration with Arbitrum improves the network’s scalability, which leads to increased efficiency of the transactions implemented at a lower cost. This represents a positive development toward the application of stablecoins in the Latin American region, given that cryptocurrencies are now being integrated into the financial systems.

MXNB’s Role in Latin America’s Financial Landscape

Stablecoins have become an integral part of the global economy ecosystem. For payments and remittances, adopting MXNB can ease the methods of transfers and become beneficial, especially for Mexico, which ranks among the leading world receivers of remittances.

Data from the World Bank noted that the total remittances that Mexico received in 2023 was over $61 million. The use of stablecoins such as MXNB offers the means to minimize the high costs and delays associated with traditional remittance services.

Juno, the newly formed subsidiary of Bitso, aims to occupy the gap in the Latin American financial market. Juno will operate with the center on MXNB and other digital assets, thus facilitating the expansion of blockchain technology. This comes against the backdrop of the rise of stablecoins in the global market, capped by regions with high unbanked populations or unstable currencies.

One notable characteristic of MXNB is the transparency on the issue of reserves. Juno will undertake regular audits at MXNB to ascertain that it is fully backed by the Mexican peso. Public attestation reports will be placed on Juno’s website so consumers are assured of the token’s stability.

Besides cross-border payment solutions, MXNB also caters to institutional use cases and financial applications in the region. Transparency and regular audits make the platform more secure for users and businesses.

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