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.
media@brale.xyz
https://brale.xyz
View original
content:https://www.prnewswire.com/news-releases/brale-releases-mxne-the-first-mexican-peso-backed-stablecoin-on-solana--stellar-302152053.html
SOURCE Brale Inc.