Bitso will issue the Mexican peso-pegged stablecoin MXNB on the XRP Ledger and use it with Ripple’s stablecoin RLUSD for corporate cross-border settlement between the United States and Mexico.
Cointelegraph reported on June 11 that the expansion extends the companies’ payments cooperation in Latin America onto an XRP Ledger-based framework.
Bitso, headquartered in Mexico City, plans to issue MXNB on the XRP Ledger and then link it to payment infrastructure based on Ripple’s DEX. MXNB will support dollar- and peso-denominated corporate payments together with RLUSD. It will also integrate with an XRP Ledger permissioned DEX that only verified participants can access, connecting it to on-chain liquidity and settlement infrastructure.
The White House’s Office of the United States Trade Representative said in 2024 that trade in goods and services between the United States and Mexico totaled $935.1 billion, up 5.5 percent from 2023. It said remittances between individuals in the United States and Mexico totaled $65 billion in 2024, with electronic transfers accounting for most of the total.
Bitso operates directly in Mexico, Brazil, Argentina and Colombia. It has an institutional network in Chile and Peru.
Chi-gyu Hwang
delight@d-today.co.kr