26-3-2025 – Bitso, a cryptocurrency exchange with a keen focus on Latin America, is boldly stepping into the flourishing realm of stablecoins as their global uptake surges. Through its business development arm, Bitso Business, the company has birthed Juno—a dedicated subsidiary tasked with crafting and overseeing digital assets, including stablecoins. Leading this charge is Ben Reid, recently named head of stablecoins, who is poised to steer Bitso’s ambitions in this rapidly evolving market.
Juno has wasted no time in making its mark, launching a Mexican peso stablecoin known as MXNB. Fully backed and designed to streamline cross-border payments and financial dealings for businesses throughout the region, this token operates on Ethereum’s layer-2 solution, Arbitrum. It’s a move that aligns with the growing prominence of stablecoins—an asset class now valued at nearly $230 billion—heralded as one of the standout triumphs in cryptocurrency adoption.
Stablecoins, tied to the value of external assets like fiat currencies (most notably the U.S. dollar), have become a game-changer. They deliver a swift, cost-efficient alternative to conventional financial systems, powering everything from remittances and savings to currency exchanges. Their appeal is particularly strong in developing nations, where unbanked communities and shaky local currencies often prevail. Around the globe, regulators are racing to craft or refine frameworks to weave stablecoins into the fabric of international finance.
Ben Reid, speaking on behalf of Bitso, underscored the transformative potential of this technology. “For global firms, navigating new markets and handling cross-border transactions often means grappling with steep intermediary fees and sluggish processing times,” he remarked. “Stablecoins, with their fiat-backed stability, offer a transparent, rapid, and affordable solution, unlocking foreign markets and revolutionising payments on a worldwide scale.” He went further, noting that Juno’s MXNB stablecoin promises to simplify business operations across Latin America with newfound efficiency.
To bolster the MXNB’s uptake, Juno has unveiled the Juno Mint Platform—a suite of APIs and tools empowering businesses to issue, redeem, and convert the stablecoin with ease. The platform also bridges the gap between traditional finance and crypto, integrating with Mexico’s SPEI banking network for seamless fiat transitions, while facilitating exchanges between stablecoins. It’s a strategic leap for Bitso as it seeks to cement its foothold in a market brimming with opportunity.
