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Stablecoins are continuing to gain ground in cross-border payments
Bitso is expanding its payment partnership with Ripple, bringing its peso-backed MXNB stablecoin to the XRP Ledger, where it will be used alongside Ripple USD (RLUSD) to support cross-border corporate settlements between the United States and Mexico.
Bitso, based in Mexico City, announced that it will issue the MXNB on the XRP Ledger, where it will be integrated into Ripple's Payments on DEX infrastructure and paired with the RLUSD stablecoin for corporate payment settlements denominated in dollars and pesos.
Money transfers between the US and Mexico comprise the largest remittance corridor in the world, according to the US Federal Reserve. US trade in goods and services with Mexico totaled about $935.1 billion in 2024, an increase of 5.5% from 2023, according to the US Office of the Trade Representative.
The MXNB will also be integrated into the XRP Ledger's Permissioned DEX, a platform designed for verified participants that allows access to on-chain liquidity and settlement infrastructure.
Companies have been partnering in cross-border payment services in Latin America for several years, laying the groundwork for this latest expansion.
Electronic transfers have dominated the $65 billion in remittances from the US to Mexico made by individuals in 2024.
Stablecoins continue to gain traction in cross-border payments.
The adoption of stablecoins continues to grow across Latin America, where Bitso operates directly, including in Mexico, Brazil, Argentina, and Colombia, with institutional connectivity in Chile and Peru.
Dollar-backed tokens represented 40% of cryptocurrency purchases on the Bitso platform in 2025, surpassing purchases of any other category of digital assets.
Financial institutions and remittance companies have also expanded their stablecoin-based payment infrastructure in recent months. In May, Anchorage Digital partnered with Grupo Salinas of Mexico to support cross-border settlement and treasury operations using stablecoins. The companies stated that the initiative would utilize blockchain-based payment rails to facilitate international dollar transfers to financial institutions and businesses.
Earlier this month, MoneyGram unveiled its dollar-backed stablecoin MGUSD on the Stellar blockchain. The company stated that the token will be integrated into its app via a self-custody wallet, allowing users to hold dollar-denominated balances, move funds globally, and convert them into local currencies.
The push for stablecoin-based payments comes as cross-border transfers continue to be expensive. World Bank data showed that sending $200 internationally cost an average of 6.36% in the third quarter of 2025, while blockchain-based settlement can be completed for a fraction of a cent.
The adoption of Stablecoin accelerated last year, with the total market capitalization rising from about $251 billion in mid-2025 to over $316 billion in June 2026, according to DefiLlama data.
The global market value of stablecoins is now over $316 billion #Xrp🔥🔥
