Anchorage Digital has expanded a custody-and-listing arrangement with Latin American crypto platform Bitso to cover both sides of the US-Mexico remittance corridor, the companies said Tuesday.
The deal places Anchorage Digital Bank's custody beneath the stablecoins moving between the two countries. 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.
What Bitso listed
Bitso, in turn, has listed USDPT and USAT, the U.S. dollar stablecoins from Western Union and Tether. Anchorage issues and custodies both tokens. The companies did not disclose financial terms.
Why the corridor matters
The US-Mexico remittance route 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.
Anchorage is betting that stablecoins, which settle onchain in seconds around the clock, will increasingly replace those legacy rails, and that doing so requires custody that is regulated and sits wherever the liquidity is.
Executive comments
"The US-Mexico corridor is where stablecoins stop being a thesis and start moving real money at scale," said Nathan McCauley, Anchorage's CEO and co-founder, arguing the firm is now "the institutional custody layer on both sides of that flow."
Ben Reid, Bitso's head of stablecoin, said clients can now access the full dollar-peso corridor fully onchain, backed by a federally chartered bank.
A wider Latin America push
The move extends a broader race to wire stablecoins into Latin America's payments plumbing. Circle recently pushed deeper into the region with a USDC settlement pilot in Colombia, part of a wider expansion into dozens of emerging markets as stablecoins go mainstream.
For Anchorage, the deal builds on a deepening stablecoin footprint. The bank issues Tether's U.S.-regulated USAT stablecoin, while Bitso has been pushing MXNB across networks including Arbitrum. By anchoring both ends of the corridor, Anchorage is aiming to become the default custodian for any issuer or bank entering the route.
