Anchorage Expands Bitso Deal to Custody MXNB Across Six Blockchains
Anchorage Digital Bank now custodies Bitso's MXNB peso stablecoin across six blockchains, while Bitso lists Western Union's USDPT and Tether's USAT, putting regulated custody under both legs of the US-Mexico remittance corridor.
Bitso's Mexican peso stablecoin, MXNB, now sits in Anchorage Digital Bank custody across six blockchains: Arbitrum, Base, Ethereum, Polygon, Avalanche and Arc. The expanded partnership, announced Tuesday, puts a federally chartered custodian under both the dollar and peso legs of the US-Mexico remittance corridor. Financial terms were not disclosed.
On the dollar side, Bitso has listed USDPT and USAT, the stablecoins from Western Union and Tether respectively. Anchorage issues and custodies both. The companies describe both as compliant with the US GENIUS Act.
Anchorage announced the expansion in a press release that pitches the bank as the custody layer for the route. CEO and co-founder Nathan McCauley framed the corridor as a proving ground:
"The US-Mexico corridor is where stablecoins stop being a thesis and start moving real money at scale"
Nathan McCauley, CEO and co-founder, Anchorage
He called Anchorage "the institutional custody layer on both sides of that flow." The ambition is bigger than one partner: Anchorage aims to become the default custodian for any issuer or bank entering the route.
Why the corridor matters
The US-Mexico corridor moves tens of billions of dollars a year. About 15% of it already runs through Bitso's infrastructure. That number comes from Bitso itself, so treat it as company-reported rather than independently verified.
For users, the practical changes land on the Bitso side. Mexican customers can buy and sell USDPT directly with pesos in the Bitso app, and Western Union agents on Bitso Business accounts can exchange USDPT for other supported currencies.
What it does and doesn't prove
Keep the caveat in view: actual payment costs and processing times depend on the networks and services involved.
Onchain settlement does not automatically mean cheaper or faster payments. The open question is how much of the corridor's traditional payment volume actually migrates onchain.
The deal also fits a pattern of regulated custodians moving into stablecoin plumbing. Anchorage was already in the news last week when Securitize said it would source settlement dollars from Anchorage to mint stablecoins directly, bringing OCC supervision to the cash leg of its trades. The Bitso move also slots into a wider Latin America stablecoin race that includes Circle's recent USDC settlement pilot in Colombia.
The takeaway: this is distribution and compliance infrastructure, not a new token or a price catalyst. The thing to watch is whether Bitso's claimed 15% share of corridor volume grows from here.
