Anchorage Digital expands stablecoin custody with Bitso for US-Mexico corridor

Key facts

• Anchorage Digital Bank will custody Bitso's MXNB stablecoin across Arbitrum, Base, Ethereum, Polygon, Avalanche, and Arc.
• Bitso listed USDPT and USAT, US dollar stablecoins from Western Union and Tether, respectively.
• The US-Mexico remittance corridor moves tens of billions of dollars annually.

Anchorage Digital Bank has expanded its partnership with Bitso, a Latin American crypto platform, to provide custody services for stablecoins facilitating transactions between the United States and Mexico. This move aims to leverage stablecoins for remittances on the US-Mexico corridor, one of the world's largest cross-border payment flows. Bitso's Mexican peso stablecoin, MXNB, will now be custodied by Anchorage across six blockchains, while Bitso will list USDPT and USAT, US dollar stablecoins issued and custodied by Anchorage. The companies anticipate that stablecoins, settling on-chain rapidly, will increasingly replace slower and more costly traditional remittance methods.