Anchorage Digital and Bitso Expand Partnership to Modernize U.S.-Mexico Remittance Corridor

Anchorage Digital Bank and Bitso have expanded their partnership to provide regulated custody for the Mexican peso stablecoin MXNB across six blockchain networks. By integrating Western Union’s USDPT and Tether’s USAT, the move secures both sides of the U.S.-Mexico remittance corridor, a critical bridge for fintechs managing cross-border liquidity and institutional digital asset flows.

What was announced

The expansion allows institutional clients to manage the MXNB stablecoin across multiple blockchain environments—specifically Arbitrum, Base, Ethereum, Polygon, Avalanche, and Arc—through a single banking relationship with Anchorage Digital Bank. This multi-chain support is designed to solve liquidity fragmentation, ensuring that institutions do not need separate custodians for every network used in cross-border payments. Alongside the peso-backed asset, Bitso has introduced two U.S. dollar-denominated stablecoins: USDPT, issued by Western Union, and USAT, issued by Tether. Anchorage Digital serves as both the issuer and custodian for these dollar assets.

The integration allows Mexican users to buy and sell USDPT directly for pesos via the Bitso app, while Western Union agents utilizing Bitso Business accounts can exchange the stablecoin for other supported currencies. Both dollar-denominated assets are described as compliant with the U.S. GENIUS Act. This infrastructure targets the U.S.-Mexico payment corridor, where Bitso reports it already processes 15% of the total remittance volume. By placing federally regulated custody behind assets on both sides of the border, the companies aim to modernize a corridor that traditionally relies on correspondent banking and cash collection networks. The arrangement ensures that transaction traceability and continuous availability are maintained, though final processing times remain dependent on the specific blockchain networks involved.

"The U.S.-Mexico corridor is where stablecoins stop being a thesis and start moving real money at scale,"

Nathan McCauley

The companies involved

Bitso is a leading Latin American financial services and cryptocurrency platform. The company has established a significant presence in the region's digital asset market, particularly in Mexico, where it has focused heavily on leveraging blockchain for cross-border financial services. Bitso has positioned itself as a primary infrastructure provider for remittances, moving beyond retail trading into institutional B2B services that connect traditional fiat systems with digital asset rails. Anchorage Digital Bank is a subsidiary of Anchorage Digital and operates as a federally chartered crypto bank in the United States. It provides institutional-grade custody, settlement, and infrastructure for digital assets. As a regulated entity, it offers a bridge for traditional financial institutions and fintechs to interact with blockchain-based assets while maintaining compliance with U.S. banking standards. The firm has been a steady presence in the institutional crypto space, focusing on the intersection of regulated banking and decentralized technology to facilitate large-scale asset movement for global clients.

What FF News has reported before

FF News has closely tracked Bitso’s growth in the cross-border sector, previously reporting on how Bitso Captures 14.7% of US-Mexico Cross-Border Remittances via Crypto Infrastructure. This latest expansion builds on that established market share. We have also covered the emergence of the dollar-denominated assets involved in this partnership, specifically when Self and USA₮ Launch First Regulated U.S. Stablecoin Distribution to Verified Humans on Celo. Additionally, the broader Latino financial ecosystem has seen significant investment, as seen when Félix Secures $200M Series C to Expand AI-Powered Latino Financial Platform, highlighting the intense competition and capital flowing into the U.S.-Mexico corridor as firms race to digitize traditional cash-heavy payment routes.

What this means

This announcement signals a shift from experimental blockchain pilots to hardened institutional infrastructure in one of the world’s busiest payment corridors. By providing regulated custody for both the peso and dollar legs of a transaction, Anchorage and Bitso are removing the "compliance gap" that has historically deterred large-scale institutional adoption of stablecoins. Traditional wire services and correspondent banks are under increasing pressure to justify their fees and multi-day settlement times as on-chain alternatives reach 15% market share. The move raises a critical question for the sector: will the consolidation of custody under a single regulated bank be enough to overcome the inherent fragmentation of liquidity across six different blockchain networks?