Anchorage Digital, Mexico's Grupo Salinas partner on stablecoin cross-border settlement

Anchorage Digital and Mexico's Grupo Salinas have partnered to use GENIUS Act-compliant stablecoins for cross-border settlement and dollar payment flows.

Under the agreement, Grupo Salinas will integrate Anchorage’s stablecoin infrastructure into operations through its Coinpro digital asset subsidiary to support treasury activity and blockchain-based dollar transfers.

Anchorage’s Stablecoin Solutions for Banks platform is designed to provide banks and financial institutions with blockchain-based dollar settlement infrastructure through Anchorage Digital Bank N.A., the first federally chartered crypto bank in the United States.

The GENIUS Act requires that only certain entities, including subsidiaries of federally chartered banks, can issue payment stablecoins.

The companies said the partnership is intended to shorten settlement times for international dollar transfers using blockchain-based payment rails instead of traditional correspondent banking infrastructure.

Grupo Salinas owns businesses including Banco Azteca and Grupo Elektra, which provide banking, consumer finance and retail services across Mexico and Latin America. 

Mexico is one of the world’s largest remittance markets, receiving roughly $64.7 billion in remittances in 2024, according to a 2025 report from the Federal Reserve Bank of Dallas. The same report found that remittance fees in the US-Mexico corridor averaged just under 5% for a $200 transfer, while traditional bank transfers often cost between 4% and 18%.

Source: Dallasfed.org

Related: Stablecoin firms have a $112B additional opportunity in LATAM remittance

Stablecoin remittance infrastructure expands in Latin America

Stablecoin adoption has grown rapidly across Latin America in recent years. A 2025 report from Mexico-based crypto exchange Bitso found that US dollar-linked stablecoins accounted for 40% of crypto purchases on its platform, surpassing Bitcoin (BTC) for the first time.

The exchange said users increasingly relying on stablecoins for savings, payments and remittances amid inflation and currency volatility across the region.

Source: Bitso report

Along with growing stablecoin adoption, major remittance and money transfer companies have increasingly expanded their stablecoin-based payment infrastructures.

Earlier this month, Western Union launched its USDPT stablecoin on Solana (SOL) for cross-border payments and settlement, with initial availability in Bolivia and the Philippines and broader expansion planned across more than 40 countries later this year.

Crypto exchange Kraken recently partnered with MoneyGram to allow users to convert crypto into local currency for cash pickup across more than 100 countries through MoneyGram’s retail payout network.

Last month, Mercado Libre, one of Latin America’s largest e-commerce and fintech companies, launched cross-border transfers between Brazil, Mexico and Chile using its Meli Dólar stablecoin.

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