Ripple is doubling down on Mexico as it brings Bitso’s Mexican peso-backed stablecoin, MXNB, onto the XRP Ledger and plugs the asset into its enterprise payments stack.
In a June 11 press release, Ripple said it has expanded its partnership with Latin American crypto exchange Bitso by issuing MXNB on XRPL and integrating the token into its Payments on Decentralized Exchange (Payments on DEX) infrastructure. The move adds a regulated peso-denominated settlement option to Ripple’s cross-border payments network and places MXNB alongside Ripple USD (RLUSD) as on-chain settlement assets supporting enterprise transactions between the U.S. and Mexico.
Key details
- MXNB will operate on the XRPL Permissioned DEX, a trading environment for verified participants, enabling approved counterparties to access on-chain liquidity and settlement in a compliance-focused setting.
- The integration follows a series of institutional-focused upgrades to the XRPL earlier this year, with validators approving enhancements that strengthen the permissioned trading environment and other regulated financial use cases.
- Ripple said pairing RLUSD and MXNB aims to “create regulated, onchain liquidity infrastructure purpose-built for enterprise cross-border payments,” a statement echoed by Silvio Pegado, Ripple’s Managing Director for Latin America, who called the setup “the next stage in how value moves between U.S. dollars and Mexican pesos.”
Industry context and ecosystem developments
The MXNB launch arrives as Ripple continues to broaden XRPL’s utility beyond payments. This week the company released an AI Starter Kit to help developers build agent-based payment applications on XRPL and announced X402 protocol support, enabling AI agents to transact using XRP and RLUSD.
Outside Ripple’s direct ecosystem, RLUSD has been gaining traction through partnerships. Mastercard recently unveiled Agent Pay for Machines—an AI-driven payment network supported by over 30 organizations including Ripple, Coinbase, and the Solana Foundation—which allows autonomous software agents to make payments, settle, and perform machine-to-machine transactions under user-defined limits. Mastercard has also implemented 24/7 settlement capabilities using RLUSD on the XRP Ledger, highlighting growing enterprise interest in stablecoin-based rails.
Why it matters
By adding a regulated peso stablecoin to XRPL and embedding it in a permissioned DEX, Ripple is strengthening on-chain liquidity corridors for corporate cross-border flows between the U.S. and Mexico. For institutional participants seeking regulated, auditable settlement with faster rails than traditional banking, MXNB plus RLUSD on XRPL could simplify and accelerate bilateral settlement while keeping compliance needs front and center.
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