The Bitso Business – B2B segment of Bitso, which provides the infrastructure for efficient and transparent cross-border payments – announced today the creation of Juno, its dedicated subsidiary for the issuance and management of virtual assets. As its first launch, Juno announces the MXNB token on the Arbitrum network, a stablecoin pegged to the value of the Mexican peso, with 1:1 parity guaranteed by fiat reserves. Due to its high security, scalability, speed, and growing ecosystem in Latin America, Arbitrum is the base blockchain and the initial network where MXNB’s growth will be driven.
The stablecoin sector has been growing rapidly, reaching a market capitalization exceeding $230 billion in March 2025, and handling trillions in annual transaction volume. Market expectations are that stablecoin will further enhance financial infrastructure, where the innovation process regarding fiat currencies has been slow in areas such as international payments and transfers. A recent study by Bitso Business, conducted by PCMI, revealed that blockchain technology and stablecoin are becoming the preferred method for global transfers due to their ability to eliminate intermediaries, reduce costs, and increase transaction speed.
Given this promising scenario and the growing number of projects related to stablecoins under 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 payment efficiency, financial inclusion, and expanded access to financial markets.
“Global companies face significant monetary challenges when serving customers in new markets and making cross-border payments, such as high costs and inefficient transaction times. stablecoin offer a fast, cost-effective, and transparent alternative pegged to a fiat currency and have been key to expanding access to foreign markets and transforming payments worldwide. MXNB enables global businesses to operate in Latin America more efficiently, and Juno will be a key player in digital token issuance and exchange, helping drive opportunities in the region,” said Ben Reid, Head of Stablecoins at Bitso Business.
To drive MXNB’s distribution and growth in a vibrant and influential ecosystem—with active projects in payments, remittances, wealth management, DeFi, gaming, and more—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 Ethereum’s security and decentralization.
“Collaborating with Bitso Business and Juno on 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. “Choosing Arbitrum as the native blockchain for MXNB’s implementation leverages the expertise and capabilities of the Arbitrum ecosystem in Mexico and other markets, while also connecting to established developer communities in Latin America and a network of financial services and fintech partners. This will accelerate 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 stablecoinoperations, including MXNB, ensuring compliance with 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 an equivalent value in Mexican pesos, and reserves are regularly audited by third parties to ensure transparency and trust.
The stablecoin MXNB will serve multiple institutional use cases, including:
- Cross-border payments: With MXNB, businesses can convert funds between other stablecoin pegged to their local currency. Juno enables businesses to convert stablecoin dollar-backed stablecoins to MXNB, allowing for fast-value transfers to other institutions, whether through cryptocurrency transfers or Mexican pesos via the SPEI system.
- Fintechs and digital wallets: Infrastructure that expands market access for foreign and local entities through digital assets, opening regional expansion opportunities at 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 remitters: Remittance companies can use MXNB to make faster and lower-cost payments to recipients.
To facilitate corporate access to MXNB, Juno has developed the Juno Mint Platform, which offers browser-based operations and a comprehensive set of APIs. These tools enable clients to access services such as token issuance and redemption, sending and receiving fiat-to-MXNB payments through local payment infrastructures, and conversions between stablecoins.
