Ripple and Bitso Expand Partnership to Enable Regulated Latin American Stablecoin Settlement

MXNB Comes Natively On-Chain

@Ripple and @Bitso have officially expanded their strategic payment partnership, integrating regulated $MXNB liquidity directly into the $XRP Ledger. Under the arrangement, Bitso's Mexican Peso-backed stablecoin will be issued natively on-chain, designed to facilitate high-speed, enterprise-grade cross-border settlement across the Latin American corridor.

The move builds on an existing relationship between the two firms. Bitso, Latin America's largest crypto platform, had already expanded its use of Ripple Payments in early 2026, using both XRP and RLUSD to settle cross-border transactions between the United States and Latin America in near real-time.

Permissioned DEX at the Center of the Compliance Architecture

The partnership leverages the $XRPL Permissioned DEX to pair $MXNB with the $RLUSD stablecoin, creating a compliant liquidity corridor designed for institutional treasury flows. The Permissioned DEX, known as XLS-81, allows the creation of permissioned decentralized exchanges that work like XRPL's existing built-in DEX, but with a key difference: a permissioned domain can restrict who is allowed to place and accept offers, creating a gated trading venue where participation can be tied to compliance requirements such as KYC and AML checks.

The architecture supports stablecoin and fiat FX swaps, where fintechs use on-chain FX to move liquidity globally across corridors, converting USD to RLUSD and then to local currency via the Permissioned DEX. Pairing $MXNB with $RLUSD on that same infrastructure extends the same compliance-first model to the Mexican Peso corridor.

$RLUSD is Ripple's US-dollar stablecoin issued under a New York regulator. It launched in December 2024 and, as of late May 2026, sits at roughly $1.78 billion in market capitalization. For banks and payment companies using Ripple Payments, RLUSD reduces exposure to XRP price swings during transactions. A corridor that settles in RLUSD instead of XRP carries less currency risk, making it more attractive for conservative financial institutions.

The Ripple-Bitso expansion signals continued momentum for the XRPL as a multi-currency settlement layer in emerging markets. By anchoring $MXNB natively on-chain and routing it through a permissioned, compliance-focused venue alongside $RLUSD, the partnership aims to reduce the friction and cost that have long made cross-border payments in Latin America expensive and slow.

Sources
Ripple: Introducing Permissioned DEX on the XRP Ledger
CoinDesk: XRP Ledger Rolls Out Members-Only DEX for Regulated Institutions
24/7 Wall St: Ripple Partnerships and Bitso's RLUSD Settlement Use