AMINA Bank, based in Switzerland, has announced the launch of custody and trading services for Ripple’s RLUSD stablecoin.
Services for Institutional Clients
The bank stated that this new service is initially aimed at institutional clients and professional investors seeking regulatory compliance. AMINA plans to further expand its RLUSD-based services in the coming months.
Features of RLUSD
Launched by Ripple, RLUSD is backed by US Treasury bonds and regulated by the New York Department of Financial Services (NYDFS). The circulating supply of RLUSD has already reached $430 million.
Role of Stablecoins in the Financial System
AMINA's support for RLUSD suggests that these assets are gaining greater adoption by traditional financial institutions. As more countries develop legal frameworks for regulating stablecoins, AMINA remarked: "By offering our customers the opportunity to trade new digital assets in a controlled environment, we both support innovation and prioritize security."
Swiss Bank AMINA showcases its commitment to integrating crypto instruments into traditional financial infrastructure, underscoring the significance of stablecoins in the market.
