Bitso, an exchange of crypto focusing on Latin America, is entering the increasingly attractive stable market as global adoption is accelerating.
The company’s commercial development unit, Bitso Business, has created Juno, a subsidiary dedicated to the issue and management of digital assets, including stablecoins. Bitso Business also recently appointed Ben Reid to the head of Stablecoins to stimulate the ambition of the company on the Stablescoin market.
The first problems of token juno are a fully sustained stable of Mexican Peso (MXNB), aimed at facilitating cross -border payments and financial transactions between companies in the region. The company deployed the token on Ethereum Layer-2 Arbitrum.
The Stablecoins, now an asset class of almost $ 230 billion, were one of the greatest successes in the adoption of cryptography. With prices set for an external asset, mainly to fiduciary currencies such as the US dollar, they offer a cheaper and faster alternative to traditional financial rails for payments, resets, savings and conversion of currencies. They are particularly popular in developing countries with large non -banished populations or fragile local currencies. Meanwhile, regulations around the world are established or advanced to integrate stabbed into the global financial system.
“Global companies are faced with significant monetary challenges when it comes to serving customers in new markets and to make cross -border payments, including high intermediate costs and ineffective transaction times”, Bitso’s Reid in a press release. “The stablecoins offer a rapid, profitable and transparent fiatal alternative and have played a decisive role in expanding access to foreign markets and the transformation of payments around the world.
“Juno’s new Stablecoin MXNB will help” global companies to do business in Latin America in a more effective way, “he added.
To support the adoption of its stablecoin, Juno has deployed the Juno Mint platform, which provides APIs and tools for businesses to issue, buy and convert MXNB. The service also activates the Fiat ramps on and the outlets with the SPEI banking system of Mexico and the exchange of stablecoin currency in Stablecoin.
