The companies are pairing MXNB and RLUSD on the XRP Ledger to support institutional payments between the United States and Mexico as stablecoin adoption grows across Latin America. Bitso is expanding its payments partnership with Ripple by bringing its Mexican peso-backed MXNB stablecoin onto the XRP Ledger, where it will be used alongside Ripple USD (RLUSD) to support enterprise cross-border settlement between the United States and Mexico. Mexico City-based Bitso said it will issue MXNB on the XRP Ledger where it will be integrated into Ripple's Payments on DEX infrastructure and paired with RLUSD stablecoin for dollar- and peso-denominated settlement of enterprise payments. Money transfers between the US and Mexico comprise the single largest remittance corridor in the world, according to the US Federal Reserve. American goods and services trade with Mexico totaled an estimated $935.1 billion in 2024, up 5.5% from 2023, according to the White House Office of the US Trade Representative. Read more
Financing from Neuberger Berman will increase Ripple Prime’s capacity to offer margin lending and other brokerage services to institutional clients trading across crypto and traditional markets. Ripple has secured a $200 million credit facility from funds managed by Neuberger Berman to expand the lending capacity of its institutional prime brokerage business, highlighting continued demand for financing services in the digital asset market. The company said Monday that the debt facility will allow its Ripple Prime unit to offer more margin loans and other financing products to hedge funds, trading companies and other institutional clients active in both crypto and traditional markets. Ripple Prime president Noel Kimmel said the additional capital will help the unit serve a broader range of institutional clients as demand for crypto financing and brokerage services continues to grow. Read more
Brad Garlinghouse addressed attendees at a Tuesday crypto conference on the progress of the CLARITY Act after US lawmakers announced a compromise on stablecoin yield that could advance the legislation. Brad Garlinghouse, CEO of Ripple Labs, warned Tuesday that recent progress on the digital asset market structure bill in the US Senate did not guarantee success for the legislation, speculating that the next two weeks would be crucial. Speaking at the Consensus crypto conference in Miami, Garlinghouse said that the likelihood of the market structure bill, the CLARITY Act, passing would “drop precipitously” if not addressed in the next two weeks. According to the Ripple CEO, the bill would be “too much of a loaded issue” amid campaigns for the 2026 US midterms, with primaries ongoing until the November elections. “Do I think it's perfect? Hell no,“ said Garlinghouse, referring to CLARITY. “I challenge you to show me any piece of legislation that we would call perfect. There's tradeoffs and compromises, but I do ...