Follow us on or join ours

The new Tether token will be linked to the Mexican currency. The Tether platform recently announced the launch of a new token called MXNT. It will be pegged to the Mexican peso.

Tether starts a new token

Following the failure of the algorithmic stablecoin UST, which is part of the Terra project, the Tether platform announced the launch of a new MXNT token. It will be pegged to the Mexican peso.

The expansion of the Tether offer is related to the opening of the platform to the Latin American market, which has great potential. At the same time, the first stablecoin representing the value of the Mexican currency was created. As announced, it will initially be available on the Ethereum, Tron and Polygon blockchains.

Latin America is turning to cryptocurrencies

As emphasized in one of the media statements by the director of Tether technology, Paolo Ardoino, over the past months Latin America has seen an increase in the use of cryptocurrencies. This prompted the platform to expand its offer. Ardoino also believes that the introduction of a peso-linked stablecoin will guarantee a stock of value in emerging markets, with an emphasis on Mexico.

Testing new opportunities

While the potential of major currencies such as the US dollar, euro and Chinese yuan is well known, the launch of the new token is intended to help the platform assess new markets, including the South American market. The Mexican market seems to be particularly promising, incl. due to the significant amount of remittances from abroad. In 2021 alone, their total value was $ 21,6 billion.

Tether is able to offer a safe, alternative currency for the area. Peso-linked Stablecoin has great potential in it, making it possible to intercept some transfers.

Latin American companies are interested in blockchain technology

According to statistics, many companies operating in Latin America are interested in using blockchain technology. If the currently implemented project is successful, it is possible that Tether will launch more stablecoins linked to local currencies.

It is worth adding that the new project is slowly dispelling the doubts that have been raised for several months regarding the actual reserves of Tether. Their actual value was for many uncertain, while the stable position of stabelcoins depends on adequate security with assets.

Rate this post
We invite you to visit our other portals Exclusive.net and LuksusoweHotele.pl

Tokeny.pl is a cryptocurrency site run by a crypto team of enthusiasts. The main area of ​​our interest are cryptocurrencies, tokens, personal tokens as well as blockchain technology. On the pages of our website we will present independent cryptocurrency reviews and interesting articles from the market. In addition, we present the current rates of all critics. The site also has a multi-functional cryptocurrency calculator as well as traditional currencies.

The information published on the cryptocurrency tokeny.pl website are not financial recommendations and do not constitute investment recommendations within the meaning of the Regulation of the Minister of Finance of 19 October 2005 on information being recommendations regarding financial instruments, their issuers or issuers (Journal of Laws of 2005, No. 206, item 1715). The information published on the pages of the portal does not constitute an offer. Tokeny.pl is not responsible for any decisions taken under the influence of data presented on the Website. Portal does not bear any responsibility for the possible use of information on the website.

Investments in OTC market instruments, including currency exchange rate (CFD) contracts, due to the use of the leverage mechanism, entail the possibility of incurring losses exceeding the value of the deposit. It is not possible to make a profit on transactions on OTC instruments, including currency exchange contracts (CFDs) without risking a loss, therefore contracts for exchange differences (CFDs) may not be suitable for all investors.

© Copyright 2019 Tokeny.pl

My Newsletter

Sign Up For Updates & Newsletters