Ripple Expands South American Reach Through Bitso Partnership
Ripple has announced a significant development aimed at enhancing cross-border payments for users in South America. The fintech firm is deepening its collaboration with Bitso, a prominent cryptocurrency exchange in the region, to integrate Bitso’s Mexican peso-backed stablecoin, MXNB, onto the XRP Ledger (XRPL) for enterprise settlement.
Enhanced Liquidity and Cross-Border Efficiency
As part of this expanded partnership, MXNB will be incorporated into Ripple’s Payments on Decentralized Exchange (DEX) infrastructure. This integration will see MXNB working in tandem with RLUSD, Ripple’s own U.S. dollar-backed stablecoin, to facilitate cross-border liquidity between the U.S. dollar and the Mexican peso. This initiative builds upon the existing, long-standing payments relationship between Ripple and Bitso in Latin America, a region where Bitso now boasts over 10 million users.
The primary objective of this collaboration is to streamline enterprise payments between the United States and Mexico. MXNB is designed to provide institutions with peso-denominated liquidity directly on-chain, while RLUSD will serve as the dollar component for these settlements.
A New Evolution in Value Transfer
Silvio Pegado, Ripple’s Managing Director for Latin America, commented on the strategic importance of the move. “Ripple and Bitso have spent years building payment infrastructure that operates at real-world scale across Latin America,” Pegado stated. “By bringing together RLUSD and MXNB on the XRPL Permissioned DEX, we’re helping create regulated, onchain liquidity infrastructure purpose-built for enterprise cross-border payments. This is the next evolution of how value moves between dollars and pesos.”
Broader Stablecoin Trends
This development also provides RLUSD with additional real-world payment utility. This aligns with broader industry trends, as recently reported, where major players like Mastercard are expanding their stablecoin strategies to encompass a range of assets, including RLUSD, across various blockchain networks like XRPL, Ethereum, Solana, and Base. This indicates a growing positioning of stablecoins for settlement and payment infrastructure, moving beyond their initial role in cryptocurrency trading.
XRPL Upgrade on the Horizon
The announcement coincides with an upcoming technical upgrade for the XRPL Ledger, version 3.2.0. This upgrade is anticipated to significantly reduce node memory usage by approximately 40%, enhance overall network efficiency, and rebrand the core server software to “xrpld.”
The next key indicator to monitor will be the adoption of MXNB and RLUSD by enterprises for live settlement flows between the U.S. and Mexico.
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