Bitso Launches MXNB Stablecoin on Arbitrum: A Fiat-Backed Solution for Mexican Remittances

Mexican cryptocurrency exchange Bitso has launched MXNB, a new stablecoin pegged to the Mexican Peso, available on the Ethereum Layer-2 network, Arbitrum. This innovative move addresses the challenges of cross-border payments faced by businesses operating in Mexico and globally. 1:1 backed by Mexican pesos, MXNB offers transparency and value stability through Juno, Bitso’s subsidiary overseeing its management and issuance. Bitso aims to improve efficiency and reduce costs for remittances and DeFi applications.