Anchorage Custodies MXNB Peso Stablecoin Across Six Chains

Anchorage Digital Bank has widened a custody-and-listing agreement with Latin American crypto platform Bitso so that it holds stablecoins on both sides of the U.S.-Mexico money-transfer route, Decrypt reported. The announcement came Tuesday, Oct. 27, 2026.

Under the arrangement, Anchorage now custodies MXNB, Bitso’s Mexican peso stablecoin, across six networks. Bitso, in turn, has listed USDPT and USAT, the U.S. dollar stablecoins from Western Union and Tether, both of which Anchorage issues and custodies. Neither company disclosed financial terms.

Also read: Anchorage Digital Reportedly Cuts 17% of Staff After Tether Deal

Key facts

• MXNB is now custodied by Anchorage Digital Bank across Arbitrum, Base, Ethereum, Polygon, Avalanche, and Arc.
• Bitso has listed USDPT (Western Union) and USAT (Tether); Anchorage is issuer and custodian for both dollar coins.
• The U.S.-Mexico remittance corridor moves tens of billions of dollars a year, and Bitso says its infrastructure already handles about 15% of that volume.
• Anchorage CEO and co-founder Nathan McCauley said the corridor is where stablecoins stop being a thesis and start moving real money at scale.
• According to News.bitcoin, Mexican customers can buy and sell USDPT directly with pesos through Bitso’s app, and Western Union agents on Bitso Business accounts can exchange USDPT for other supported currencies.

One banking relationship across multiple chains

Stablecoin liquidity is spread across several networks, so institutions handling cross-border payments often need a separate custodian for each chain. Anchorage’s expansion is framed as a way around that: a single federally chartered banking relationship now covers the peso coin on six blockchains. News.bitcoin reported that the arrangement lets institutional clients hold the peso-backed asset in several blockchain environments through one provider.

Decrypt framed the move as Anchorage planting itself at the center of one of the world’s largest money-transfer routes. Much of that flow still runs through correspondent banking, wire transfers and cash-pickup networks, which the parties argue are slow and costly compared with onchain settlement that clears in seconds around the clock.

Also read: Stablecoin Transfers Cost 84% Less Than Bank Channels, Report Finds

Dollar and peso rails under one roof

The listing gives Bitso users access to dollar-denominated assets alongside MXNB. The two reports describe the dollar coins slightly differently: Decrypt calls USDPT and USAT the U.S. dollar stablecoins of Western Union and Tether that Anchorage issues and custodies, while News.bitcoin describes Anchorage as issuer and custodian for the pair and notes that both are described as compliant with the U.S. GENIUS Act. The GENIUS Act compliance claim appears only in News.bitcoin.

Bitso’s head of stablecoin, Ben Reid, said clients can now reach the full dollar-peso corridor entirely onchain, backed by a federally chartered bank, according to Decrypt.

The deal extends a regional contest. Decrypt noted that Circle has pushed deeper into Latin America with a USDC settlement pilot in Colombia as part of a wider expansion into emerging markets.

Why it matters

Remittances between the U.S. and Mexico are among the largest cross-border payment flows in the world, and a meaningful share of the corridor’s users are served by Bitso. Putting regulated custody beneath both the dollar and peso legs means an issuer or bank entering the route can hold either side of a payment with one provider rather than assembling separate arrangements per chain and per currency. It also gives a federally chartered bank a position in peso-denominated stablecoin infrastructure, an asset class that has mostly been handled by offshore or non-bank custodians.

What to watch

The open question, as News.bitcoin put it, is how much of the corridor’s traditional payment volume actually migrates onchain. Watch adoption of USDPT through Bitso’s app and Western Union’s agent network, and whether other issuers entering the route follow Anchorage’s custody model.

This article reports on a business arrangement and does not constitute financial advice; crypto markets are volatile and uncertain.

Reported by decrypt.co.

Sources: Decrypt, News.bitcoin