Ripple and Bitso have expanded their collaboration by launching the peso-backed stablecoin MXNB on XRPL’s Permissioned DEX alongside RLUSD, aiming to build a regulated on-chain USD/MXN settlement rail for the U.S.–Mexico remittance corridor, which processes an estimated $60 billion annually.
Announced on June 13, 2026, the integration brings MXNB—issued by Juno, a Bitso subsidiary—directly onto the XRP Ledger. Paired with Ripple’s RLUSD, the setup enables USD/MXN settlement through XRPL’s Permissioned DEX, a compliance-focused environment designed for KYC/AML-verified institutional participants.
The initiative goes beyond simple asset expansion. It represents an effort to position XRPL as regulated liquidity infrastructure for one of the largest cross-border payment corridors globally.
While Ripple’s official release does not cite figures, third-party estimates, including Bitget coverage, place U.S.–Mexico remittance flows at over $60 billion per year, underscoring the commercial scale behind the project.
How MXNB works on XRPL
MXNB is already available across networks such as Ethereum, Arbitrum, and Avalanche, but its deployment on XRPL introduces a more tightly controlled trading environment via the Permissioned DEX. This system limits access to verified institutional counterparties, separating it from XRPL’s open DEX.
When used together with RLUSD, MXNB forms part of a unified on-ledger FX and settlement layer, reducing dependence on traditional correspondent banking rails for cross-border transfers.
According to Bitso’s disclosures, MXNB is fully backed 1:1 by Mexican pesos held in regulated financial institutions. Its issuer, Juno, operates under Mexico’s Fintech Law as a licensed electronic payments institution, providing the regulatory foundation for institutional adoption.
Ripple and Bitso’s evolving partnership
Ripple first partnered with Bitso in 2019 as part of its On-Demand Liquidity network, using XRP to facilitate cross-border remittances into Mexico.
That partnership established Bitso as a key liquidity bridge in Latin America and laid the groundwork for today’s shift from XRP-based flows to stablecoin-driven settlement infrastructure.
Ripple LATAM Managing Director Silvio Pegado called the integration “the next evolution of how value moves between dollars and pesos,” noting that the RLUSD–MXNB pairing creates “regulated, onchain liquidity infrastructure purpose-built for enterprise cross-border payments.”
Bitso Business Head of Stablecoins Ben Reid added that MXNB was designed for enterprise settlement from the ground up, offering on-chain peso liquidity with the compliance and efficiency required by institutional users.
Broader implications for stablecoin infrastructure
The key question is no longer whether XRPL can support stablecoins—it already does through RLUSD. Instead, attention shifts to whether the Permissioned DEX can attract enough institutional participants, including banks and payment providers, to generate meaningful FX liquidity at scale.
Ripple positions the MXNB–RLUSD pairing as a blueprint for expanding localized stablecoin settlement corridors across Latin America, with the U.S.–Mexico corridor serving as the initial test case.
In the near term, the most important metric will not be XRP price action, but the rate of institutional adoption on the Permissioned DEX, which will determine whether this model evolves into a broader regional settlement network or remains a more limited bilateral payments solution.
