MXNB Becomes the First Latin American Currency-pegged Stablecoin Issued Under El Salvador’s CNAD Regulation

Bitso, Latin America’s leading digital financial  services company, today announced it has obtained a license from El Salvador’s National Commission of  Digital Assets (CNAD) for Nvio Pagos El Salvador, S.A. de C.V. to act as issuer of the Mexican peso pegged stablecoin MXNB. The entity, authorized and regulated in El Salvador, now becomes responsible  for the issuance and management of MXNB, which makes it the first Latin American currency-backed  stablecoin to operate under CNAD regulation, in accordance with the highest standards of security and  transparency for stablecoin issuance.  

The CNAD is the independent regulatory body overseeing the entire digital asset industry in El Salvador  and is recognized globally as a benchmark regulator for stablecoin issuance, having established one of  the world’s most rigorous and up-to-date legal frameworks for this asset class. By channeling MXNB  issuance through Nvio Pagos El Salvador, Bitso ensures that every token issued meets the CNAD’s  rigorous requirements for reserve backing, transparency, and operational oversight; the same standards  that govern the largest stablecoins in global circulation. 

Setting the Regulatory Benchmark for Latin America 

As the stablecoin market surpasses US$230 billion in market cap and facilitates trillions in annual  transaction volume, Latin America remains one of the world’s fastest-growing regions for digital asset  adoption; yet one with a fragmented regulatory landscape still in consolidation. In this context, Bitso has  consistently sought alignment with the most rigorous global standards, prioritizing security and trust  above all. 

“Eleven years ago, we decided that the way to build in crypto was the same way you build any serious  financial infrastructure — with coherence between what you say and what you do, sustained over time.  The CNAD license is a direct extension of that. We looked at the most robust stablecoin frameworks in  

the world and chose to operate at that standard, because MXNB is meant to be an infrastructure that  millions of people and thousands of institutions across the region can trust,” said Daniel Vogel, CEO and  Co-founder of Bitso. 

As pointed out by the Crypto Asset Risk Report 2025, El Salvador offers one of the most predictable and  consistent regulatory environments for crypto assets in the world1. The CNAD’s framework is the same  regulatory environment that governs the largest stablecoins in global circulation, making this milestone  particularly significant for Bitso and for the broader Latin American digital asset ecosystem. 

A Long-Standing Commitment to El Salvador 

Bitso recognizes El Salvador’s growing global relevance as a hub for crypto-led innovation. The country  was the first in the world to create a dedicated, independent regulator for digital assets, and its regulatory  framework has since become a reference point for policymakers across the region and beyond. 

“El Salvador has done something rare: built a regulatory framework that takes digital assets seriously on  their own terms, with clear rules and real supervision. That kind of clarity is what allows serious operators  to build with a long horizon,” added Vogel. “We’ve been building in Latin America for over a decade, and  this license deepens a long-term commitment to El Salvador and to the ecosystem the CNAD is shaping.” 

MXNB is a stablecoin pegged to the value of the Mexican peso, fully backed on a one-to-one basis  against fiat reserves, regularly audited by independent third parties to ensure transparency. It supports a  wide range of institutional use cases, including cross-border payments, remittances, digital payments for  merchants and fintechs, and stablecoin-to-stablecoin FX conversions. MXNB is designed to give global  companies and financial institutions a fast, cost-effective, and transparent way to operate in Latin America  — enabling businesses to move value across borders more efficiently and contributing to Mexico’s  financial innovation and economic growth.