Binance Cuts XRP Pair with Mexican Peso as Ripple Partner Bitso Dominates the Region by 77,879%

World's largest crypto exchange Binance has announced the delisting of the XRP/MXN trading pair, scheduled for April 24. At first glance, the news suggests that Binance is cutting off a fiat route for XRP in Mexico, but a closer look at the data reveals the exchange is removing an uncompetitive segment.

Current market data from CoinMarketCap explains Binance’s decision better than any press release. A comparison of XRP performance against the Mexican peso reveals total dominance by the local player, Bitso.

Why XRP/MXN delisting on Binance is actually a win for Ripple’s partner Bitso

Daily trading volume on Binance stands at a modest $2,868, while Bitso processes more than $2.23 million. In addition, Bitso holds about $776,000 in liquidity within 2% of the price. Binance barely exceeds $2,400 in this metric, making large-volume trading on the platform impossible without severe price slippage.

XRP/MXN markets, Source: CoinMarketCap

Binance’s exit from this narrow segment does not weaken XRP’s position. It highlights the effectiveness of Ripple’s strategy in the region, as Bitso is not just an exchange but a key infrastructure node in the Ripple Payments system. The massive gap in trading volumes, 770 times higher than Binance, confirms that Bitso successfully acts as a liquidity bridge for cross-border transfers between the United States and Mexico.

While Binance attempted to attract retail participants to the XRP/MXN pair, Bitso integrated the asset into the real economy, enabling instant conversion of dollars into pesos through XRP. Binance remains a global hub for speculative trading in USDT pairs, but local fiat corridors are now mostly handled by Ripple’s strategic partners.