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.
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.
Users running trading bots on Binance must close $XRP/MXN positions before 03:00 UTC on April 24. For real payments into Mexico, Bitso continues to provide the deepest liquidity and the most stable pricing.
