Bitso & Ripple Slap a Peso on the Ledger: MXNB Lands on XRPL 💸

Crypto firm Ripple and Mexico City-based fintech Bitso are expanding their cross-border payments partnership with the launch of Bitso's MXN-backed MXNB stablecoin on the XRP Ledger, the companies said. The token will be integrated into Ripple's Payments on Decentralized Exchange (DEX) infrastructure and paired with Ripple's RLUSD stablecoin to support dollar- and peso-denominated settlement across the U.S.-Mexico corridor.

Mexico City-based Bitso said it will issue MXNB on the XRP Ledger, where the stablecoin will operate within Ripple's Payments on DEX infrastructure and be paired with RLUSD. Together, the firm said, MXNB and RLUSD will support efficient liquidity and settlement flows for enterprise cross-border payments between the United States and Mexico, a market the U.S. Federal Reserve identifies as the single largest remittance corridor in the world. American goods and services trade with Mexico totaled an estimated $935.1 billion in 2024, up 5.5% from 2023, according to the White House Office of the U.S. Trade Representative. Electronic transfers dominated the $65 billion in U.S.-Mexico remittances made by individuals in 2024, per the Federal Reserve Bank of Dallas.

MXNB will also be integrated into the XRP Ledger's Permissioned DEX, a platform designed for verified participants that enables access to onchain liquidity and settlement infrastructure. Ripple said the permissioned DEX, which Ripple and XRPL developers rolled out earlier this year, is intended to support regulated financial activity by enabling verified counterparties to transact within a compliance-focused environment.

Stablecoin adoption continues to grow across Latin America, where Bitso operates directly in Mexico, Brazil, Argentina and Colombia, with institutional connectivity in Chile and Peru. Dollar-backed tokens represented 40% of crypto purchases on Bitso's platform in 2025, exceeding purchases of any other digital asset category. Other firms have pushed into stablecoin-based payments in recent months: in May, Anchorage Digital partnered with Mexico's Grupo Salinas to support cross-border settlement and treasury operations using stablecoins, and earlier this month MoneyGram unveiled its dollar-backed MGUSD stablecoin on the Stellar blockchain, integrating it into its app via a self-custodial wallet for dollar balances, global transfers and local-currency conversion.

The expansion comes as cross-border transfers remain expensive; World Bank data showed that sending $200 internationally cost an average of 6.36% in the third quarter of 2025, while blockchain-based settlement can be completed for a fraction of a cent. Total stablecoin market capitalization climbed from around $251 billion in mid-2025 to more than $316 billion in June 2026, according to DefiLlama data, as issuers and payment providers continued building token-based rails for global money movement.