Brale releases MXNe, the first Mexican peso-backed stablecoin on Solana & Stellar

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May 22, 2024, 11:00 ET

DES MOINES, Iowa, May 22, 2024 /PRNewswire/ -- Brale, a US-based regulated stablecoin issuer, is excited to announce it has partnered with Etherfuse to bring MXNe, a Mexican Peso-backed stablecoin, to market.

Real MXN (MXNe), a Mexican Peso-backed stablecoin, is now available on Solana & Stellar. MXNe will support on-chain payments, remittances, and payroll in the local Mexican economy. MXNe is redeemable 1:1 for the equal value of Mexican Pesos.

"Stablecoins represent an immense efficiency for various applications, regardless of backing currency. Access to the Mexican Peso through protocols has been difficult on high-efficiency blockchains like Solana & Stellar," said Ben Milne, CEO Brale.

MXNe will be made available directly by Brale and supports a future where stablecoins from around the world can benefit from the design of fiat-backed stablecoins.

"Working with Brale, we were able to scope a solution using proprietary Etherfuse products to bring a unique product to market. Brale was able to support new assets, contracts, and implementations in record time," said Dave Taylor, CEO Etherfuse.

Developing stablecoins on Solana and Stellar has various advantages in terms of speed and scalability for the MXNe program. High-efficiency blockchains enable end users to benefit from transaction costs well below 1 cent with subsecond finalization. More information is available at the Brale website.

About Brale:

Brale is a US-based stablecoin issuer focusing on combining traditional finance's best parts with distributed technologies. For more information, visit https://brale.xyz

About Etherfuse:

Etherfuse aims to improve access by lowering the barrier to owning and leveraging safe real-world assets. For more information, visit https://etherfuse.com

Contact:
Chase Merlin
Head of Product
Brale Inc.
[email protected]
https://brale.xyz

SOURCE Brale Inc.