Six chains, two currencies: Anchorage wires the US-Mexico stablecoin corridor

Anchorage Digital Bank, the federally chartered crypto bank, now custodies MXNB, Bitso’s Mexican peso stablecoin, across six blockchains—Arbitrum, Base, Ethereum, Polygon, Avalanche and Arc—as part of an expanded custody-and-listing arrangement with Bitso announced Tuesday. Bitso has also listed USDPT and USAT, the U.S. dollar stablecoins from Western Union and Tether, both of which Anchorage issues and custodies.

Financial terms were not disclosed. The U.S.-Mexico remittance corridor moves tens of billions of dollars a year and ranks among the world’s biggest cross-border payment flows. About 15% already runs through Bitso’s infrastructure, while much of the remainder continues through correspondent banking, wire transfers and cash-pickup networks that can be slow and costly. Stablecoins settle onchain in seconds around the clock.

Nathan McCauley, Anchorage’s CEO and co-founder, said, “The US-Mexico corridor is where stablecoins stop being a thesis and start moving real money at scale.” He described Anchorage as “the institutional custody layer on both sides of that flow.” Ben Reid, Bitso’s head of stablecoin, said clients can now access the full dollar-peso corridor fully onchain, backed by a federally chartered bank.

The arrangement extends a broader effort to integrate stablecoins with Latin America’s payments infrastructure. Circle recently expanded its regional work with a USDC settlement pilot in Colombia, part of a wider push into dozens of emerging markets as stablecoins gain adoption.

For Anchorage, the agreement builds on its stablecoin footprint. The bank issues Tether’s U.S.-regulated USAT stablecoin, while Bitso has been promoting MXNB across networks including Arbitrum. By providing custody at both ends of the corridor, Anchorage is aiming to become the default custodian for issuers or banks entering the route.