No don't breed him! First many dogs after being bred don't get better with humping etc, they get worse! So in human terms you don't miss what you don't know. If you breed him, he will now know what he is missing.
You can stop the humping like most unwanted behaviour. You can also make sure your dog is well exercised and as well is mentally stimulated. A tired dog is a good dog
He is not Kennel Club registered, you are not even sure he is a purebred dog, why contribute to the population of mixed dogs?
I believe in England that they recommend pet owners neuter their dogs, and it is usually the best decision for most pet owners.