Profile
MXNe profile facts
Real MXN (MXNe) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Mexican Peso.
- Collateral
- Backed by Etherfuse CETES Stablebonds: short-duration (~7-day) Mexican federal government Treasury bills (CETES), held across regulated Mexican custodians with a majority at BBVA Mexico and held through INDEVAL; reserves segregated from Etherfuse corporate funds, issued via Brale's regulated US stack
- Peg mechanism
- Issuer-managed mint and redemption through Brale onboarding, with MXNe intended to remain redeemable 1:1 for the equivalent value of Mexican pesos and usable for payments, remittances, and payroll
- Jurisdiction
- United States / FinCEN / state money transmitter regulators / Money Services Business / Money Transmitter, NMLS ID #2376957
- Proof of reserves
- Examination by Etherfuse third-party attestations (BHR Mexico) covering the CETES Stablebonds backing MXNe Reserve source
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
MXNe quick answers
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What is Real MXN (MXNe)?
MXNe is Brale's Mexican peso stablecoin issued in partnership with Etherfuse, backed by Etherfuse Stablebonds (CETES exposure) on Base, Solana, and Stellar. The static profile records its Mexican Peso peg mechanism as: Issuer-managed mint and redemption through Brale onboarding, with MXNe intended to remain redeemable 1:1 for the equivalent value of Mexican pesos and usable for payments, remittances, and payroll.
Is MXNe safe?
As of Nov 10, 2026, Pharos grades MXNe C (57/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to customers the issuer has verified. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs MXNe?
Pharos records MXNe's reserves as of Jul 24, 2026 as 100% Etherfuse CETES Stablebond. Reserve evidence: Examination, latest period ending Jul 24, 2026. Pharos classifies the backing as Real-World Asset Backed.
Can MXNe be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem MXNe?
Under the route Pharos reviewed on Oct 20, 2026, customers the issuer has verified can redeem MXNe for USDC. Settlement is same-day. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.
