TL;DR
- Bitso has launched its subsidiary Juno to enter the stablecoin market, with the goal of issuing and managing digital assets.
- Juno will issue a stablecoin backed by the Mexican peso (MXNB), designed to facilitate cross-border payments and financial transactions in Latin America.
- The Juno Mint platform will allow businesses to issue and manage MXNB, as well as integrate Mexico’s banking system (SPEI) to facilitate payments between fiat currencies and cryptocurrencies.
Bitso, one of the leading crypto exchanges in Latin America, has entered the stablecoin market through the creation of its subsidiary Juno.
This new business unit aims to issue and manage digital assets, including stablecoins. The first token Juno will launch is a fully backed Mexican peso stablecoin (MXNB), specifically designed to facilitate cross-border payments and financial transactions in the region.
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
MXNB will be issued on Arbitrum, an Ethereum layer-2 solution, ensuring greater efficiency and lower transaction costs. This stablecoin seeks to provide a faster and more economical alternative compared to traditional payment methods, especially for businesses operating in Latin America, a region known for its economic and financial infrastructure challenges.
Bitso Aims to Modernize Latin American Finance
To facilitate the adoption of MXNB, Juno has launched the Juno Mint platform, which provides tools and APIs for businesses to issue, redeem, and convert MXNB. Additionally, this platform enables integration with Mexico’s banking system (SPEI), facilitating payments between fiat currencies and cryptocurrencies in the country.
The stablecoin market has grown exponentially in recent years and is currently valued at nearly $230 billion. Stablecoins, typically pegged to traditional currencies such as the U.S. dollar, offer an efficient alternative for international payments, remittances, and currency conversion, especially in developing countries with unstable local currencies or unbanked populations.
The arrival of Juno with MXNB in the Latin American economy will simplify and reduce the cost of cross-border transactions, as well as enhance access to international markets. Bitso will play a crucial role in modernizing the region’s financial system.
