Ripple and Bitso have expanded their partnership to bring the MXNB stablecoin onto the XRP Ledger for cross-border settlement.
Under the expanded collaboration, Bitso's regulated Mexican peso-backed stablecoin, MXNB, will be issued on the XRP Ledger (XRPL) and integrated into Ripple's Payments on Decentralised Exchange (DEX) infrastructure. Alongside RLUSD, Ripple's USD-denominated stablecoin, MXNB is intended to support liquidity and settlement flows for cross-border payments along the US–Mexico corridor.
Building on an existing LATAM partnership
According to the official press release, Ripple and Bitso have worked together for several years on payment infrastructure across Latin American corridors, including flows denominated in Mexican pesos (MXN) and Colombian pesos (COP). The integration of MXNB into XRPL and Payments on DEX represents a further step in this relationship, extending localised stablecoin settlement infrastructure into a corridor that handles significant volumes of cross-border and remittance payments between the US and Mexico.
Moreover, MXNB will operate within Ripple's XRPL Permissioned DEX, an infrastructure layer designed to support regulated financial activity by allowing verified counterparties to access onchain liquidity and settlement within a compliance-oriented environment. Through the process of pairing MXNB with RLUSD on this infrastructure, the companies aim to provide a mechanism for institutional counterparties to settle transactions between US dollars and Mexican pesos onchain.
According to Silvio Pegado, managing director for LATAM at Ripple, the combination of RLUSD and MXNB on the XRPL Permissioned DEX is intended to create regulated, onchain liquidity infrastructure for cross-border payments between the two currencies, building on infrastructure the two companies have developed over several years.
Positioning for institutional settlement
For Bitso, the integration positions MXNB within a broader category of locally issued stablecoins aimed at payment and settlement use cases in Latin America. Ben Reid, head of stablecoins at Bitso Business, described MXNB as a peso-denominated, regulated stablecoin built for institutional cross-border settlement, and said its integration into Ripple's Permissioned DEX infrastructure on the US–Mexico corridor gives institutional counterparties access to peso-denominated liquidity onchain, alongside compliance and settlement efficiency requirements relevant to enterprise use cases.
The expanded partnership also reflects Ripple's broader approach of connecting traditional payment infrastructure with digital asset liquidity for financial institutions and payment providers. Bitso has previously served as an early exchange partner for RLUSD, supporting access to regulated, dollar-denominated liquidity for institutional payment flows across US–LATAM corridors. The latest expansion adds a peso-denominated stablecoin to that infrastructure, with both companies framing it as part of the ongoing development of regulated digital asset settlement tools for cross-border payments in the region.
