Bitso is expanding its Mexican peso stablecoin, MXNB, to the XRP Ledger (XRPL) and integrating with Ripple Payments’ decentralized trading infrastructure. This means MXNB is no longer confined to a closed platform but is now part of an on-chain settlement network designed for cross-border payments.
MXNB integrates with XRPL
MXNB is a regulated peso stablecoin launched by Bitso. Under the latest arrangement, this token will be issued directly on the XRPL and integrated with Ripple’s payment system. The structure is designed to work alongside Ripple’s USD stablecoin, RLUSD, to create a more direct settlement pathway between the US dollar and the Mexican peso.
This collaboration is not the first time the two parties have worked together. Bitso and Ripple have previously partnered on payment corridors in Latin America, including Mexico and Colombia. Unlike previous efforts, which relied more heavily on crypto assets to facilitate transfers, this update represents a shift closer to the underlying settlement infrastructure—using stablecoins as the primary liquidity and settlement tool.
Targeting U.S.-Mexico cross-border settlements
The Mexico-U.S. payment corridor is one of the largest cross-border payment markets globally, covering remittances and corporate fund transfers. Bitso already has significant payment volume in this market; therefore, after MXNB is launched on-chain, some of the existing payment traffic is expected to transition to blockchain-based settlement.
In the actual process, institutional funds can first enter the system as RLUSD, then be exchanged for MXNB, and settled on the XRPL. This approach aims to reduce intermediaries in the traditional correspondent banking chain and shorten settlement times.
Compliant institutions may participate in liquidity.
Another key aspect of this partnership is XRPL’s Permissioned DEX. This mechanism restricts participants to verified institutions, ensuring that on-chain liquidity operations remain compliant with KYC and AML requirements.
For banks and fintech companies, this model aims to preserve the speed and automation of on-chain settlement while remaining compliant. For Ripple, it further advances its regulated liquidity infrastructure strategy; for Bitso, it extends the use of stablecoins beyond trading to more direct cross-border payment applications.