Ripple and Bitso have expanded their partnership, positioning the XRP Ledger (XRPL) as a increasingly central settlement layer for the payment corridor between the United States and Mexico. At the heart of this development is Bitso’s regulated, Mexican peso-backed stablecoin, MXNB.
Previously limited to a more closed ecosystem, the MXNB stablecoin will now be issued directly on the XRP Ledger and integrated into Ripple’s decentralized exchange payment infrastructure. This initiative aims to create a more direct settlement channel for large-scale dollar-to-peso transfers.
Under the new system, MXNB will work in tandem with Ripple’s RLUSD stablecoin. The core goal is to allow institutional flows of dollars to enter the network as RLUSD, convert seamlessly to MXNB, and complete transactions with fewer intermediaries involved.
Bitso is well established as a Latin American crypto platform and payments company. Its collaboration with Ripple is not new; the two firms have already partnered for cross-border payment corridors in several Latin American countries, including Mexico and Colombia.
This time, the big story isn’t the expansion of the partnership, but a technical transformation in the model itself. The process is moving from crypto-backed transfers toward a blockchain-based settlement layer built around regulated stablecoins and controlled liquidity.
Quick glossary: A permissioned DEX is a decentralized exchange in which only verified participants can trade. This model maintains on-chain speed and automation while complying with KYC and anti-money laundering rules.
A key feature of the collaboration is the XRPL Permissioned DEX, which allows only verified institutions to participate. The platform enhances liquidity management while complying with Know Your Customer and anti-money laundering regulations. For banks and fintech firms, this approach aims to ease transaction friction without stepping outside compliance boundaries.
| Component | Function | Scope |
|---|---|---|
| MXNB | Peso-backed digital asset | Settlement focused on Mexico |
| RLUSD | US dollar-based stablecoin | Dollar entry and conversion layer |
| XRPL Permissioned DEX | Trading area for verified institutions | Compliant liquidity management |
The US-Mexico payment corridor is among the world’s largest, with remittance and corporate flows totaling hundreds of billions of dollars annually. Bitso already commands significant market share within this ecosystem, and moving MXNB to the XRPL network now brings a portion of this vast volume onto a blockchain-based settlement rail.
Bitso’s annual payment volume reaches billions of dollars, establishing a robust institutional footprint across Latin America. For Ripple, integrating MXNB on XRPL is a key move in its ongoing effort to expand regulated liquidity infrastructure.
The broader picture, as outlined in the report, shows that blockchain-based, programmable, and regulatory-compliant liquidity models are emerging as alternatives to the traditional correspondent banking system in cross-border payments. The adoption of MXNB on XRPL is seen as one of the latest links in this chain of transformation.
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