Bitso Exchange Unveils Stablecoin Venture with Juno, Targets Payments in Latin America

Latin American crypto exchange Bitso is stepping into the rapidly growing stablecoin space with the launch of its new subsidiary, Juno. This strategic move positions the company to capitalize on the increasing demand for efficient digital payment solutions across the region.

Juno’s debut offering is a Mexican peso stablecoin, known as MXNB, which aims to streamline cross-border transactions and enhance financial connectivity for businesses operating in Latin America. Deployed on Ethereum’s layer-2 network Arbitrum, this fully-backed digital asset reflects Bitso’s commitment to leveraging blockchain technology for practical financial applications.

The stablecoin market has emerged as a cornerstone of crypto adoption worldwide, with its total value nearing $230 billion. These digital assets, typically tied to stable fiat currencies like the U.S. dollar, provide a reliable alternative to traditional payment systems. They enable faster, more affordable transactions, making them particularly valuable in regions with underdeveloped banking infrastructure or volatile local currencies.

For Latin America, where cross-border commerce and remittances play a significant role in the economy, stablecoins like MXNB could unlock new opportunities for businesses and individuals alike. Bitso’s entry into this space aligns with a broader global trend, as regulatory frameworks evolve to accommodate the integration of stablecoins into mainstream finance.

Juno Mint Platform Enhances Accessibility

To support the rollout of MXNB, Juno has introduced the Juno Mint Platform, a suite of tools designed to simplify the adoption of its stablecoin. This platform offers businesses access to APIs and resources for issuing, redeeming, and converting MXNB, ensuring seamless integration into existing financial workflows.

Additionally, the platform facilitates fiat on- and off-ramps through Mexico’s SPEI banking system, a widely used interbank transfer network. This feature allows users to easily move between traditional currency and the stablecoin, while also supporting stablecoin-to-stablecoin exchanges for added flexibility.

Bitso’s leadership sees significant potential in addressing the challenges faced by global companies operating in Latin America. Ben Reid, recently appointed as head of stablecoins under Bitso Business, emphasized the inefficiencies of conventional cross-border payments in a statement. He noted that high intermediary costs and slow transaction times often hinder businesses expanding into new markets.

Reid believes stablecoins offer a transparent and cost-effective solution, capable of transforming how payments are conducted worldwide. With MXNB, Juno aims to empower companies to conduct business in the region more efficiently, reducing friction in international trade and financial operations.