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Anchorage Positions Itself as Custody Backbone of US-Mexico Stablecoin Corridor
Anchorage Digital Bank has expanded its custody arrangement with Bitso to include MXNB, a Mexican peso stablecoin, and USDPT and USAT, U.S. dollar stablecoins issued by Anchorage. The deal, announced on October 24, places Anchorage’s custody beneath both sides of the US-Mexico remittance corridor, which moves tens of billions of dollars annually. The companies did not disclose financial terms, but the move aims to replace legacy payment rails with onchain stablecoins. Anchorage’s CEO, Nathan McCauley, sees the US-Mexico corridor as a significant step towards institutional custody of stablecoins.