RWA

Bitso Brings Peso-Backed MXNB Stablecoin to XRP Ledger for US-Mexico Settlement

Bitso is expanding its payments partnership with Ripple by issuing its Mexican peso-backed MXNB stablecoin on the XRP Ledger, where it will be paired with RLUSD for enterprise cross-border settlement between the United States and Mexico — the world's single largest remittance corridor at $65 billion annually.

TokenForge HQ Editorial July 4, 2026 RWA / XRPL
Bitso MXNB stablecoin XRP Ledger US Mexico cross-border payment 2026
$935B
US-Mexico goods and services trade (2024)
$65B
Annual US-Mexico remittances — world's #1 corridor
6.36%
Average cost to send $200 internationally (Q3 2025)

The Deal

Bitso, Mexico City's largest crypto exchange, is bringing its peso-backed MXNB stablecoin to the XRP Ledger through an expanded partnership with Ripple. The stablecoin will be integrated into Ripple's Payments on DEX infrastructure and paired with RLUSD for dollar- and peso-denominated settlement of enterprise cross-border payments.

MXNB will also be integrated into the XRP Ledger's Permissioned DEX — a platform designed for verified institutional participants that provides access to onchain liquidity and settlement infrastructure without the open-access risk of public DEX venues.

The two companies have partnered on cross-border payment services in Latin America for several years, making this the natural next step: moving from payment infrastructure to native stablecoin issuance on the same ledger.

Why the US-Mexico Corridor Matters

The US-Mexico remittance corridor is the single largest in the world. Individual transfers totaled $65 billion in 2024, according to Federal Reserve Bank of Dallas data, with electronic transfers dominating. US-Mexico goods and services trade totaled an estimated $935.1 billion in 2024, up 5.5% from 2023, per the White House Office of the US Trade Representative.

Traditional cross-border payment costs remain steep. The World Bank reported that sending $200 internationally cost an average of 6.36% in Q3 2025. Blockchain-based settlement using paired stablecoins like MXNB and RLUSD can close the same transaction for a fraction of a cent — and in seconds, not days.

"The companies are pairing MXNB and RLUSD on the XRP Ledger to support institutional payments between the United States and Mexico as stablecoin adoption grows across Latin America." — CoinTelegraph, June 11, 2026

Stablecoin Context: $316B and Growing

The broader stablecoin market has grown from approximately $251 billion in mid-2025 to more than $316 billion in June 2026, according to DefiLlama data. Dollar-backed tokens represented 40% of crypto purchases on Bitso's own platform in 2025 — exceeding any other digital asset category.

Bitso operates directly in Mexico, Brazil, Argentina, and Colombia, with institutional connectivity in Chile and Peru. That footprint gives MXNB on XRPL immediate institutional distribution across the region's most active markets.

The MXNB-RLUSD corridor is part of a broader XRPL stablecoin strategy. For context on how Ripple is deploying RLUSD across other major markets, see our coverage of Ripple's equity stake in Flutterwave to bring RLUSD to 35 African countries.

Sources

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