Crypto Exchange Bitso Launches Stablecoin Business, Eyeing LatAm Cross-Border Payments
Bitso, a crypto exchange focusing on Latin America, is entering the increasingly attractive stablecoin market as global adoption accelerates.
The company’s business development unit, Bitso Business, has established Juno, a subsidiary dedicated to issuing and managing digital assets including stablecoins. Bitso Business also recently appointed Ben Reid as head of stablecoins to drive the firm’s ambition in the stablecoin market.
The first token Juno issues is a fully-backed Mexican peso stablecoin (MXNB), aiming to facilitate cross-border payments and financial transactions between businesses across the region. The firm deployed the token on Ethereum layer-2 Arbitrum.
Stablecoins, now a nearly $230 billion asset class, have been one of the…
