Arbitrum is one of the most engaged chain in the Ethereum ecosystem. And this chain has most of the gaming and the DAO and other apps going on. However it was kind of not that hard to see a lot of stablecoins not launching on it. Some of the USD backed stablecoins are already deployed on it. 

Now recently the news came out that the arbitrum is launching the Mexican Peso backed Stablecoin. So this is new stablecoin which is not USD that has been deployed. Plenty of other chains are doing the same but it's not usual to see non USD based stablecoin. 

What is MXNB? It's mexican peso backed 1:1 collateral stablecoin launched on the chain. And as per the whitepaper there seems to be use case locally and the international forex market.  Juno is the company who created and would be issuing the tokens legally for the stablecoin. 

It'd find it's use case in the forex market which is independent of the KYC and also in the market where it needs the forex peg for the Mexican Peso. And this would also possible that the ecosystem exposure would also make more cahsflow for the MXNB in the upcoming future. 

Let's see how many other coins also launch on arbitrum or the Ethereum based ecosystem.