Bitso Launches MXNB Stablecoin on Arbitrum: A New Solution for Cross-Border Payments in Mexico

Mexican cryptocurrency exchange Bitso has launched MXNB, a new stablecoin pegged to the Mexican Peso. This fiat-backed stablecoin is now live on Arbitrum, an Ethereum Layer-2 network designed to improve transaction efficiency and reduce costs. 1:1 backing ensures its value mirrors the Mexican Peso, according to Bitso Business. Juno, the company’s newly formed subsidiary, will manage MXNB’s issuance and reserves.