Bitso Launches Mexican Stablecoin: The Week in Finance

This week in finance news: BBVA expands its sustainability training program for SMEs, increasing its reach starting in 2024. Moody’s Mexico rates BIM A-mx with a stable outlook, while Bitso launches Juno, a platform for managing virtual assets, including the Mexican peso stablecoin (MXNB).

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BBVA Expands Sustainability Training for 466 Companies

BBVA has launched its third annual sustainability training program for its SME suppliers, expanding participation to 466 companies across 13 countries. This represents an 11% increase from 2024, when 418 companies participated. A total of 593 individuals have enrolled in the global training initiative, up 7% from the previous year.

Moody’s Mexico Rates BIM A-.mx, Citing Strong Deposit Base

Banco Inmobiliario Mexicano (BIM) has received an A-.mx long-term local currency deposit rating with a stable outlook and an ML A-2.mx short-term rating from Moody's Mexico. The firm highlighted BIM’s strong deposit base, which reached MX$11.38 billion at the end of 2024, along with a 161% increase in interest income and fiduciary activities over the past three years.

Patience, Persistence are Key for Digital Payment Adoption

STP has been driving the digitalization of treasury operations in Mexico for 16 years, helping businesses adopt real-time payments and financial technologies like SPEI and CoDi, said Jaime Márquez Poo, Business Developement Director, STP. While CoDi adoption has been slow due to the long-established success of SPEI, education and gradual adoption will increase the adoption of new payment options. 

Bitso Business Launches Juno for Managing Virtual Assets

Bitso Business, the B2B division of cryptocurrency platform, launched its subsidiary Juno, focused on issuing and managing virtual assets. With this launch, Juno has introduced MXNB, a stablecoin pegged to the Mexican peso and fully backed by fiat reserves at a 1:1 ratio.

Banxico Cuts Benchmark Rate to 9%, Marks 7th Cut Since March

Mexico’s Central Bank (Banxico) lowered its benchmark interest rate by 50 basis points to 9%, marking its second consecutive cut of this size and the seventh reduction since the easing cycle began in March 2024. The decision was unanimous among Banxico’s governing board, which indicated it “may consider adjusting [the rate] by a similar magnitude” in the future.