In brief – Anchorage Digital expanded a custody-and-listing arrangement with Bitso covering both sides of the US-Mexico corridor. – The deal targets the US-Mexico remittance corridor, one of the world’s largest, which moves tens of billions yearly. – It extends a Latin America…
ablecoin race, including Circle’s recent Colombia settlement pilot. Anchorage Digital is planting itself at the center of one of the world’s largest money-transfer routes, expanding a custody-and-listing arrangement with Latin American crypto platform Bitso to hold the stablecoins moving between the United States and Mexico
Announced Tuesday, the deal puts Anchorage Digital Bank’s custody beneath both sides of the corridor. MXNB, Bitso’s Mexican peso stablecoin, is now custodied by the federally chartered crypto bank across six blockchains: Arbitrum, Base, Ethereum, Polygon, Avalanche, and Arc. In turn, Bitso has listed USDPT and USAT, the U.S. dollar stablecoins from Western Union and Tether, both of which Anchorage issues and custodies.
The companies did not disclose financial terms. The target is the U.S.-Mexico remittance corridor, which moves tens of billions of dollars a year and ranks among the biggest cross-border payment flows on earth. Much of that money still travels over correspondent banking, wire transfers and cash-pickup networks that are slow and costly, while about 15% already runs through Bitso’s infrastructure.