Namea Latin American digital asset company, said it has been approved to issue its Mexican peso-pegged stablecoin MXNB.
Bitso received approval from El Salvador National Digital Assets Commission (CNAD), Nvio Pagos El Salvador, SA de CV has agreed to act as the stablecoin issuer. Bitso said it is the first Latin American currency-backed stablecoin to operate under CNAD regulation.
Bitso notes that Latin America is one of the fastest-growing regions in the world for digital asset adoption. Regions also struggle with a fragmented regulatory environment.
Daniel VogelThe CEO and co-founder of Bitso looked at the most robust stablecoin frameworks in the world and chose to operate under CNAD.
Bitso claims that El Salvador offers one of the most predictable and consistent regulatory environments for crypto assets in the world. CNAD’s framework is the same regulatory environment that governs the largest stablecoins in global circulation, making this milestone particularly important for Bitso and the broader Latin American digital asset ecosystem.
“We have been building in Latin America for over a decade, and this license deepens our long-term commitment to El Salvador and the ecosystem shaped by CNAD,” said Vogel.
MXNB is a stablecoin pegged to the value of the Mexican peso, fully backed one-to-one against fiat reserves, and regularly audited by independent third parties.
