Bitso Business Creates New Entity Juno and Launches the MXNB Stablecoin to Facilitate Efficient and Low-cost Cross-border Payments

Bitso Business —the B2B arm of Bitso that provides infrastructure for  efficient and transparent cross-border payments— announced today the creation of its subsidiary Juno, a  company dedicated to the issuance and management of virtual assets. Along with this announcement,  Juno is launching MXNB token on Arbitrum, a stablecoin pegged to the value of the Mexican peso, which  is fully fiat-backed on a one-to-one basis against reserves. Due to its high security, scalability, speed and  growing ecosystem across Latin America, Arbitrum is the foundational blockchain partner and initial network  where MXNB growth will be pursued. 

Stablecoin activity has grown quickly, reaching a market cap of over US$230 billion1in March of 2025 and  facilitating trillions in transaction volume each year. Many industry experts expect stablecoins to further  improve the financial infrastructure that fiat currency has been slow to innovate on, like payments and cross border transfers. In a recent study, From Barriers to Bridges: How Blockchain Can Reshape Cross-Border  Payments in Latin America2, Bitso Business, in partnership with PCMI, found that blockchain technology  and stablecoins are emerging as a preferred method of global transfer by removing intermediaries, cutting  costs, and increasing transaction speeds. 

Given the significant potential of this market and the growing number of stablecoin-related projects under  development, Bitso Business recently appointed Ben Reid as the new Head of Stablecoins to drive the  company’s stablecoin strategy and help accelerate global adoption of emerging market stablecoins to help  companies and consumers alike benefit from more efficient payment rails, greater financial inclusion, and  increased financial market access. 

“Global companies face significant monetary challenges when it comes to serving customers in new  markets and conducting cross-border payments, including high intermediary costs and inefficient  transaction times. Stablecoins provide a fast, cost-effective and transparent fiat-pegged alternative and  have been instrumental in expanding access to foreign markets and transforming payments worldwide.  MXNB enables global companies to do business in LatAm in a more efficient way and Juno will be a key  player to issue and exchange digital tokens that can foster the region’s opportunities”, said Ben Reid, Head  of Stablecoins at Bitso Business. 

To enable the distribution and growth of MXNB in a vibrant and influential ecosystem with active projects  across payments, remittances, wealth management, DeFi and gaming, to name a few, Juno has partnered  with Arbitrum, one of the most widely adopted Ethereum Layer 2 (L2) scaling solutions designed to enhance  transaction speed and reduce costs while maintaining Ethereum’s security and decentralization. 

“Partnering 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. “Selecting Arbitrum as the native blockchain where MXNB is deployed unlocks the  expertise and capabilities of the Arbitrum ecosystem in Mexico and beyond, leveraging established  developer communities across LatAm and access to a network of partners in financial services and fintech.  This will drive product development for this token in a region where local and global companies are eager  for such solutions.” 

As part of the Bitso group, Juno will operate independently to manage stablecoin operations, including  MXNB, while adhering to the highest standards of segregated custody, management, and transparency for  both fiat currency and crypto funds. 

MXNB combines the advantages of blockchain technology —such as transparency, transaction speed, and  global accessibility— with stability through strict operational control mechanisms. It is fully backed by the  equivalent value in Mexican pesos, and the reserves are regularly audited by third parties to ensure  transparency and trust. 

The MXNB stablecoin will support a wide range of institutional use cases, including: 

• Cross-border payments: With MXNB, businesses will be able to convert funds between other  stablecoins pegged to their local currency. Juno allows companies to convert dollar-backed  stablecoins to MXNB so they can quickly move value to other businesses, with either  cryptocurrencies transfers, or MXN transfers facilitated through the SPEI system. 
• Fintechs and wallets: Infrastructure that expands market access for both foreign and local entities  through digital assets, opening up regional expansion opportunities at lower costs. 
• Digital payments: Payment service providers can expand their offerings by integrating MXNB into  their solutions, enabling faster settlements and lower transaction fees for both individuals and  merchants. 
• Money transmitters (remittances): Remittance companies can leverage MXNB to facilitate faster  and lower-cost payments to recipients. 

To enhance corporate access to MXNB, Juno has developed the Juno Mint Platform, which offers browser based operation as well as a comprehensive set of APIs. These tools will allow clients to access services  such as token issuance and redemption, fiat on and off-ramps for MXNB via local payment rails, and  stablecoin-to-stablecoin FX conversions.