News

Tether Launches Mexican Peso-Backed Stablecoin, MXNT

0
Mexican Pesos, bank notes, currency bills, money background

Tether, the world’s largest stablecoin, has launched a new Mexican peso-pegged stablecoin, marking its entry into the Latin America region.

Source: The Block

USDT USD down -0.01%, BTCUSD down -2.36%

The stablecoin, dubbed MXNT will be initially available on Tron, Ethereum and Polygon blockchains.

MXNT is Tether’s fourth fiat-pegged stablecoin after launching US dollar-pegged USDT, EURO-pegged EURT, and the Chinese Yuan-pegged CNHT.

Paolo Ardoino, CTO of Tether stated that they have observed the surge in cryptocurrency surge in Latin America over the last year.

Ardoino further stated the introduction of a Peso-pegged stablecoin will offer a store of value for users in emerging markets, more so in Mexico.

Tether stated the launch of MXNT will provide a testing platform for onboarding new users in Latin America and open the way for more fiat-pegged stablecoins in the region.

 

fxcoach

Binance’s License in Bahrain Expanded to Category 4, to Offer More Crypto Services

Previous article

Injective to Welcome 10 New Blockchains with Wormhole Partnership

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News