Bitso launches MXNB (Mexican peso stablecoin) on Base, enabling direct peso-to-stablecoin onboarding and DeFi yield via Morpho.
DeFi & Yields ·
Bitso has launched MXNB, a Mexican peso stablecoin, now available on the Base network. The token enables users to deposit Mexican pesos directly through Bitso and withdraw MXNB onto Base, creating a direct onramp for peso-denominated assets onto the blockchain.
The integration streamlines the process of moving pesos onchain by removing intermediary steps. Users gain access to DeFi yield opportunities through a vault operated by buildwithjuno on the Morpho protocol, allowing MXNB holders to earn returns on their stablecoin holdings within the lending ecosystem.
The announcement does not specify details around MXNB's collateralization, reserve backing, regulatory status, or rollout timeline beyond its availability on Bitso and Base. Adoption metrics, transaction volume, and competitive positioning against existing peso-linked instruments remain unaddressed.