Key facts
- Ripple and Bitso have launched a peso-backed stablecoin.
- The stablecoin operates on the XRP Ledger.
- It aims to enhance regulated Mexican peso liquidity.
- The target market is cross-border payments between the U.S. and Mexico.
Ripple and Bitso have collaborated to introduce a new peso-backed stablecoin on the XRP Ledger. This development is designed to bolster regulated Mexican peso liquidity, specifically targeting the facilitation of cross-border payments within the U.S.-Mexico corridor. The stablecoin aims to provide a more efficient and regulated avenue for financial transactions between the two countries.