Tether Launches Mexican Peso Stablecoin MXN₮ -Breaking
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Tether Launches Mexican Peso Stablecoin MXN₮- has launched MXN₮, which is pegged to the Mexican peso.
- MXN₮ will now join other fiat-based stablecoins such as USDT, EURT, and CNHT.
- Tether also plans to introduce other stablecoins that are based on the fiat currencies from other Latin American countries.
Stablecoin company Tether has announced the launching of its newest stablecoin MXN₮. The stablecoin will be pegged to Mexico’s peso and joins other Tether fiat-based stablecoins USDT and EURT.
According to Tether’s press release, this move marks the company’s foray into Latin America. This will also become the “testing ground” for welcoming new users in the said market.
CEO Paolo Ardoino said:
The rise of cryptocurrency usage in Latin America in the last year has shown that there is a need for us to increase our offerings.
Also, the company mentioned that the MXNT was launched because 40% of Mexican companies are interested. ado …
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