Bitso, an encryption exchange that focuses 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 administering digital assets, including Stablecoins. Bitso Business also recently appointed Ben Reid as head of Stablecoins to boost the ambition of the company in the Stablecoin market.
The first Token Juno Problems is a totally supported Mexican weight (MXNB), with the aim of facilitating cross -border payments and financial transactions between companies throughout the region. The company displayed the Token in the referee of Ethereum layer 2.
Stablecoins, now a class of assets of almost $ 230 billion, has been one of the greatest success stories in the adoption of cryptography. With the prices linked to an external asset, predominantly to fiduciary currencies such as the US dollar, offer a cheaper and faster alternative to traditional financial rails for payments, remittances, savings and currency conversion. They are especially popular in developing countries with large non -banking populations or fragile local currencies. Meanwhile, regulations worldwide are being established or progressing to adapt to Stablecoins to the global financial system.
“Global companies face significant monetary challenges when it comes to serving customers in new markets and making cross -border payments, including high intermediary costs and inefficient transaction times,” Bitso’s Reid in a statement. “Stablecoins provides a rapid, profitable and transparent alternative of fiducias and has been fundamental to expand access to foreign markets and transform payments worldwide.
“Juno’s new MXNB Stablecoin will help” global companies to do business in Latin America in a more efficient way, “he added.
To support the adoption of its stablecoin, Juno has implemented the Juno Mint platform, which provides API and tools for companies to issue, rendered and convert MXNB. The service also allows ramps of entry and exit of the Spei banking system of Mexico and the exchange of currencies stablecoin-top stablecoin.
