XRP posted a strong 5.2% overnight surge, one of the top major-cap performers over the past 24 hours, with daily trading volume spiking to $3.4 billion, up around 20% from yesterday's number. The token is currently trading near $1.24, having broken through the $1.20-$1.25 resistance zone that has previously stalled major recoveries. According to crypto analyst Evan Clegg, the wedge formation has broken and RSI has reset, with demand holding at critical levels. The rally comes as four confirmed enterprise partnerships - SBI Remit, Tranglo, Azimo, and Nium - are routing live cross-border remittances through Ripple's network, with XRP acting as the bridge asset. As per crypto.news, XRP traded near $1.15 on June 12, with the token recording about $1.68 billion in daily trading volume and market capitalization standing near $71.24 billion.
SBI Remit, Japan's largest money transfer provider, launched an XRP-based international transfer service in September 2023, covering corridors to the Philippines, Vietnam, and Indonesia. Tranglo, a regional payout hub, handles payouts for SBI Remit's XRP-based expansion and uses ODL to reduce liquidity costs by up to 60% compared to traditional banking solutions. Azimo, Europe's leading digital money transfer service, uses ODL for payments to the Philippines, with the company's documentation confirming the potential for significant cost reductions. Nium, a Singapore-based cross-border payments company, uses RippleNet to open payment corridors from the Americas into Southeast Asia. According to X Finance Bull, "Ripple isn't building for a hypothetical future. It's processing real remittances today." The global remittance market moves over $700 billion annually, with legacy wire systems still extracting 6-8% fees from every transfer.
Ripple has expanded its existing payment partnership with Bitso, a leading digital financial services company in Latin America, to support the issuance of a Mexican Peso (MXN)-pegged stablecoin on the XRP Ledger (XRPL). According to the latest partnership announcement, the stablecoin will be integrated into Ripple's decentralized exchange (DEX)-based payment infrastructure, currently under development, to streamline cross-border payments between the United States and Mexico. The stablecoin will operate on the XRPL Permissioned DEX, a trading environment designed for verified participants that allows approved counterparties to access on-chain liquidity and settlement services in a compliance-focused setting. This expansion builds on years of payment work between the two companies across Latin America, including MXN and COP payout flows, with Bitso serving as an early exchange partner for RLUSD, helping Ripple expand access to dollar-denominated liquidity in the region.
The launch places MXNB alongside Ripple USD (RLUSD), with both stablecoins supporting liquidity and settlement for enterprise transactions between the United States and Mexico. As reported by Ripple, the combination is intended to facilitate regulated cross-border payment flows while using blockchain-based settlement infrastructure. RLUSD and MXNB will support regulated cross-border payment settlements between the U.S. and Mexico, providing approved counterparties with on-chain liquidity and settlement services in a compliance-focused environment. The new MXNB stablecoin pairs with Ripple's RLUSD to create an institutional settlement corridor between the US and Mexico, giving Ripple a peso-backed settlement asset for one of the world's largest remittance corridors. According to World Bank data, the United States sent over $63 billion in remittances to Mexico in 2023, making it the second-largest remittance corridor globally.
The partnership represents production-grade infrastructure being extended to one of the most important payment corridors in the Western Hemisphere. Ben Reid, Head of Stablecoins at Bitso Business, emphasized that "MXNB was built from the ground up for enterprise settlement. Its integration into Ripple's Permissioned DEX infrastructure on the U.S.-Mexico corridor gives institutional counterparties something new: access to peso-denominated liquidity onchain, with the compliance certainty and settlement efficiency that enterprise use cases require." Unlike open DeFi infrastructure, the Permissioned DEX allows only verified counterparties to access on-chain liquidity, making it operationally practical for the banks, payment providers and corporate treasuries that move real money at real scale. Bitso, which processes more than $82 billion in annualised transaction volume through its B2B platform and serves over 2,000 institutional clients, brings genuine scale to the partnership. Ripple's network includes over 300 financial institutions using RippleNet, with regional liquidity hubs facilitating over $15 billion in monthly flows across 55 countries, having saved users more than $1.5 billion in fees compared to traditional systems.
