Ripple partners with Bitso to support peso-pegged stablecoin

Ripple has announced an expansion of its existing payment partnership with Bitso, a leading digital financial services company in Latin America. Under the collaboration, the XRP Ledger (XRPL) will support the issuance of Bitso's Mexican Peso (MXN)-pegged stablecoin, which will be utilized in the decentralized exchange (DEX)-based payment infrastructure Ripple is currently building. The MXN stablecoin, alongside Ripple's corporate U.S. dollar stablecoin RLUSD, is set to provide efficient liquidity and settlement for U.S.-Mexico remittances and cross-border business payments.