Tether has launched a new stabelcoin pegged to the Mexican peso. Thus, the company entered the Latin American market.
Stablecoin MXNT will be available on Ethereum, Tron and Polygon blockchains.
This is Tether’s fourth stabelcoin. Previously, the company issued coins pegged to the dollar (USDT), the euro (EURT) and the yuan (CNHT).
“We have seen an increase in cryptocurrency use in Latin America over the last year, which made it obvious that we need to expand our offerings,” said Tether CTO Paolo Ardoino.