Bitso Business, a part of Bitso that aims to provide infrastructure for other digital asset firms, says it has launched a new subsidiary called Juno.
Juno aims to support the issuance and management of digital assets. Bitso did not clarify if these digital assets included regulated digital securities.
Additionally, Juno is expected to launch a stablecoin pegged to the Mexican Peso. MXNB will use the Arbitrum blockchain and is said to be fully backed by one-to-one reserves.
While widely affiliated with crypto markets, stablecoins are actually more related to payments and transfers, competing with traditional payment rails.
Bitso said that due to the importance of the stablecoin business, the company has hired Ben Reid as new Head of Stablecoins to accerlate adoption..
Reid commented that stablecoins provide fast and effective payments. MXNB aims to enable global companies doing business in Latin America.