A Bitso Business – B2B segment of Bitso, providing infrastructure for efficient and transparent cross-border payments – announced today the creation of Juno, its subsidiary dedicated to the issuance and management of virtual assets. As its first release, Juno announces the MXNB token on the Arbitrum network, a stablecoin pegged to the value of the Mexican peso, with a 1:1 parity guaranteed by fiat reserves. Due to its high security, scalability, speed, and growing Latin American ecosystem, Arbitrum is the base blockchain and initial network where the growth of MXNB will be driven.
The stablecoin sector has been growing rapidly, reaching a market capitalization exceeding 230 billion dollars in March 2025, and handling trillions in annual transaction volume. Market expectations are that stablecoins will further enhance the financial infrastructure, as the innovation process compared to fiat currencies has been slow, especially in areas like international payments and transfers. A recent study by Bitso Business, conducted by PCMI, revealed that blockchain technology and stablecoins are becoming the preferred method for global transfers, due to their ability to eliminate intermediaries, cut costs, and increase transaction speed.
Given this promising scenario and the growing number of projects related to stablecoins in development, Bitso Business recently appointed Ben Reid as the new Head of Stablecoins. He will lead the company’s strategy to accelerate the global adoption of these assets in emerging markets, offering businesses and consumers greater efficiency in payments, financial inclusion, and expanded access to financial markets.
“Global companies face significant monetary challenges in serving customers in new markets and making cross-border payments, such as high costs and inefficient transaction times. Stablecoins offer a fast, cost-effective, and transparent alternative pegged to a fiat currency, and have been instrumental in expanding access to foreign markets and transforming payments worldwide. MXNB enables global companies to do business in Latin America more efficiently, and Juno will be a key player in issuing and exchanging digital tokens, helping to drive opportunities in the region,” said Ben Reid, Head of Stablecoins at Bitso Business.
To boost the distribution and growth of MXNB in a vibrant and influential ecosystem, with active projects in payments, remittances, asset management, DeFi, and gaming, among others, Juno has partnered with Arbitrum, one of the most widely adopted Layer 2 (L2) scalability solutions on Ethereum. This technology is designed to increase transaction speed and reduce costs, while maintaining the security and decentralization of Ethereum.
“Working together with Bitso Business and Juno through MXNB allows Arbitrum to participate in a highly significant project for the cross-border digital payments industry,” said Austin Ballard, Partnerships Manager at Offchain Labs. “The choice of Arbitrum as the native blockchain for the implementation of MXNB leverages the expertise and capabilities of the Arbitrum ecosystem in Mexico and other markets, as well as connects to established developer communities in Latin America and a network of partners in financial services and fintechs. This will drive product development for this token in a region where local and global companies are eager for solutions like this”.
As part of the Bitso group, Juno will operate independently to manage stablecoin operations, including MXNB, ensuring adherence to the highest standards of segregated custody, management, and transparency for funds in both fiat and crypto currencies.
MXNB combines the advantages of blockchain technology — such as transparency, transaction speed, and global accessibility — with stability ensured by rigorous operational control mechanisms. It is fully backed by the equivalent value in Mexican pesos, and reserves are regularly audited by third parties to ensure transparency and trust.
The stablecoin MXNB will serve various institutional use cases, including:
- Cross-border payments: With MXNB, companies can convert funds between other stablecoins pegged to their local currency. Juno allows companies to convert stablecoins pegged to dollars into MXNB so they can make quick transfers of value to other institutions, either through cryptocurrency transfers or Mexican pesos, facilitated by the SPEI system.
- Fintechs and digital wallets: Infrastructure that expands market access for foreign and local entities through digital assets, opening regional expansion opportunities with reduced costs.
- Digital payments: Payment service providers can expand their offerings by integrating MXNB into their solutions, enabling faster settlements and lower transaction fees for individuals and merchants.
- Money remittance: Remittance companies can use MXNB to make faster payments with lower costs to recipients.
To facilitate corporate access to MXNB, Juno has developed the Juno Mint Platform, which offers operation via a browser, as well as a complete set of APIs. These tools allow customers to access services such as token issuance and redemption, sending and receiving fiat to MXNB payments through local payment infrastructures, and conversions between stablecoins.
