On December 30, the XRP liquidity index recorded a new all-time high on the Mexican Bitso exchange. The volume of the coin against the Mexico peso reached 10,071,247 XRP, according to the liquidity index Bot.
This index was at about 6 million XRP only a month ago.
It shows how is making rounds in Mexico, the country that is faced with high remittance costs.
Bitso has been one of the significant partners for Ripple since 2014. The exchange provides liquidity for RippleNet’s US-MXN corridor. After the MoneyGram partnership, Ripple launched it’s On-Demand Liquidity (ODL) in Mexico throughthe help of Bitso.
Way back in October, Ripple also announced its strategic investment in Bitso, the very first Mexican exchange. The company did this to help it make an impact in major Latin American markets. Bitso will utilize the freshly injected capital to venture into Argentina and Brazil.
Ripple recently mentioned that, in 2020, it will continue to expand the list of its partners in Brazil, one of the fastestgrowing remittance markets.
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