Bitso, a leading cryptocurrency exchange based in Mexico, has launched MXNB, a stablecoin pegged to the Mexican Peso. This new fiat-backed stablecoin is now available on Arbitrum, an Ethereum Layer-2 network known for its low transaction fees and increased speed. 🎶 Juno, Bitso’s subsidiary, will oversee the issuance and management of MXNB, ensuring transparency and user confidence through regular independent audits of reserves. 🔍 This move addresses a significant challenge faced by businesses seeking to expand into new markets – high intermediary costs and inefficient cross-border payments. 💰 The stablecoin offers a faster, more cost-effective solution for remittances and decentralized finance (DeFi) applications in Mexico and beyond. 🚀