Tether launches new stablecoin pegged to Mexican peso
Tether has launched a new stablecoin pegged 1:1 to the Mexican peso. Dubbed MXNT, the stablecoin will initially be available on the Ethereum, Tron and Polygon blockchains.
This is Tether’s fourth fiat-pegged stablecoin, after US dollar-pegged USDT, Euro-pegged EURT and the offshore Chinese Yuan-pegged CNHT. According to Paolo Ardoino, CTO of Tether, introducing a Peso-pegged stablecoin will provide a store of value for those in the emerging markets and in particular Mexico.