Tether Launches Mexican Peso-Backed Stablecoin, MXNT

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.



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