TerraMex Announces Launch of Stablecoin Pegged to Mexican Peso on Arbitrum Network

Bitso Launches Mexican Peso-Pegged Stablecoin on Arbitrum

Cryptocurrency exchange Bitso has launched a Mexican peso-pegged stablecoin, BSO, on the Arbitrum network. The new stablecoin is designed to provide a secure and efficient way to store and transfer value, with a peg to the Mexican peso.

According to a press release, the BSO stablecoin is fully collateralized by USDC, a widely-used stablecoin pegged to the US dollar. This means that for every BSO token in circulation, there is an equivalent amount of USDC held in reserve, ensuring that the value of BSO remains stable and pegged to the Mexican peso.

The launch of BSO on Arbitrum, a layer-2 scaling solution for Ethereum, is expected to increase the adoption of stablecoins in Latin America. The region has seen significant growth in the use of stablecoins, particularly in countries like Mexico, where they are often used to store value and make payments.

"We are excited to bring BSO to the Arbitrum network, providing a trusted and reliable way for users to store and transfer value," said Bitso's CEO, Gustavo Quintana. "Our goal is to make it easy for people to use stablecoins in their daily lives, and we believe that BSO will be a game-changer for the region."

BSO is now available for trading on Bitso's platform, and users can store and transfer the stablecoin on the Arbitrum network. The launch of BSO is expected to increase the adoption of stablecoins in Latin America, and provide a new way for users to store and transfer value.