How Brale helped Etherfuse launch MXNe, the first Mexican Peso stablecoin on Solana and Stellar
MXNeReal MXN
Summary
Etherfuse partnered with Brale to launch MXNe, the first Mexican Peso stablecoin on Solana, Stellar, and Base. MXNe is designed to foster local economic growth, reduce transaction costs, and ensure transparent, secure value capture within the Mexican community. MXNe was brought to market in less than a month, enabling Mexican businesses and individuals to benefit from a stable, community-driven currency.
Problem
Etherfuse needed a regulated partner to issue a stablecoin backed by the Mexican Peso to support local economic growth in Mexico.
The situation
Etherfuse identified an opportunity for Mexican businesses, individuals, and policymakers to benefit from a local stablecoin would retain value within the community and reduce transaction costs.
The challenges
Etherfuse needed an issuance partner to support a Mexican Peso stablecoin with integrated U.S. dollar on and offramps, reserves transparency, and reporting.
Additionally, they needed a partner who could manage reserves in CETES, the on-chain Mexcian treasury bonds issued by Etherfuse.
“The MXNe stablecoin, made possible through our partnership with Brale, has the potential to revolutionize the way we transact and capture value. This is a significant step forward, benefiting the communities who create, develop, promote, and use it. Brale is a genuinely legendary team, and we look forward to creating a platform that allows anyone, anywhere in the world, to develop a Stablecoin in any currency.”
How Brale helped
Regulated issuance stack
To deploy a regulated stablecoin, Etherfuse initially explored various options but found that developing a new entity to manage the reserves, issuance, and reporting was both time-consuming and cost-prohibitive.
Solution
Brale's regulated issuance stack enabled Etherfuse to issue MXNe with integrated on and offramps, reserves management, and reporting.
Outcome
By partnering with Brale, Etherfuse was able to swiftly bring MXNe to market, securely backed by CETES tokens, and fully compliant with regulatory requirements.
Currency conversion
Etherfuse needed a partner who could provide cross-currency swaps between USD stablecoins and MXNe to support cross-border payments.
Solution
Brale provides low-fee stablecoin swaps between Brale-issued stablecoins, USDC, and PYUSD with MXNe.
Outcome
Etherfuse was able to expand access to MXNe to U.S. based businesses to support cross-border payments and lower transactions fees for receivers in Mexico.
Multi-chain implementation
Etherfuse aspired to deploy MXNe on multiple blockchains from day one to make available to partners in different ecosystems.
Solution
Brale supports the issuance of regulated stablecoins on 10+ blockchains leveraging audited token standards on each chain, and retains the ability for Etherfuse to expand to new chains quickly.
Outcome
By working with Brale, Etherfuse was able to issue MXNe on Solana, Stellar, and Base immediately, engaging multiple communities.
MXNe, the first Mexican Peso stablecoin on Solana and Stellar
Features used
- Stablecoin issuance
- Exchange listing
- Partner onboarding
- Onramp / offramp
- Token management
- Reserve management
- Program pages
- Multi-chain gateway
- Teams
- MPC signing
- Program monitor
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