MMXN - The First Operational Stablecoin Backed 1:1 to the Mexican Peso
Krypital Group supports the first Mexican peso stablecoin MMXN to promote the development of the crypto market in Latin America.
DALLAS, TX / ACCESSWIRE / June 29, 2021 / Moneta Digital, an international technology company, officially announced the launch of MMXN on the 17th of 2021. The one and only stablecoin backed by Mexican Pesos was listed on the second-largest exchange in Mexico - Mexo.io. As a strategic partner of Moneta Digital and an investor of MMXN, Krypital Group said MMXN would be a strong and trusted bridge between pesos and cryptocurrencies for the booming Mexican crypto world.
MMXN is the first use case stablecoin cryptocurrency that pegs 1:1 to the Mexican Peso in the world of digital assets. The goal is to allow investors to use MMXN to get benefits from the crypto world. Mexican Pesos users utilize this digital instrument to facilitate many types of use cases, such as intermediary between fiat and digital assets, borderless remittances, payments, and let digital finance serve everyone better.
“We are very proud to announce that the first use case Mexican stablecoin is now operational, for the benefit of thousands of Mexicans looking for a fast, secure and low-cost transactions network that will revolutionize the way we send remittances across borders. The high growth numbers of the cryptocurrency market in Latin American support this great trust in turning MMXN into a great exchange asset in the crypto ecosystem,” says Bowen Zhou, CEO of Moneta Digital.
In the press conference of the MMXN launch, Jay Chen from Krypital Group said, “As a strategic partner of Moneta Digital, I am thrilled to witness the historical moment of the birth of MMXN. This is a great milestone in the LATAM crypto history.”
Meanwhile, Krypital Group as MMXN’s investor, said the two parties have reached a consensus and would then carry out in-depth cooperation in digital currency transactions, payments, cross-border transfers, and diversified financial products to promote MMXN in the Latin American market and the global crypto market. Krypital Group will take advantage of our global resources and long-time blockchain experiences, continually bringing more partners, products, and funds to help Moneta grow solidly in Mexico and worldwide.
Moneta Digital was created to help millions of Mexican users to solve the fiat on/off ramp needs to the cryptocurrency space. To fill the gap between fiat and crypto, MMXN was designed and developed as a digital stablecoin that is pegged 1:1 to Mexican Pesos so users can intuitively understand the concept between stablecoin and Mexican Pesos fiat, as well as store a stable value in cryptocurrency without exiting to fiat.
MMXN is completely transparent, all deposits are held in a fully licensed and regulated reserve, which is also attested regularly by the most trusted third-party consulting firm.
Mexo is focusing on providing a comprehensive cryptocurrency exchange to the LATAM market. As a comprehensive cryptocurrency exchange, Mexo offers Spot Trading, Contract Trading, Grid Trading, Leveraged Token, Paper Trading, OTC, Mexo Academy and peer-to-peer marketplace, all while giving our users the opportunities to profit from a full list of trading pairs and trading features.
About Krypital Group
Founded in 2017, Krypital Group is a leading global venture capital firm and blockchain incubator. Vested in a complete blockchain ecosystem, the company has specific investment funds for both primary and secondary markets, as well as providing end-to-end services such as project incubation, brand management and technical advisory. To date, Krypital Group has active arms in North American, Asia and Latin American.
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SOURCE: Krypital Group
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