The Swiss financial institution AMINA has emerged as the first bank in the world to support Ripple USD (RLUSD) amidst a rising interest in stablecoins and regulatory efforts.
Company Overview
On July 3, AMINA officially announced it is "the first bank globally to directly support Ripple USD." Initially, the bank will provide only custody and trading services for RLUSD, targeting institutional clients and professional investors looking for compliant stablecoin options. AMINA also disclosed plans to expand its services in the future.
AMINA's Crypto Initiatives
Earlier this year, AMINA took steps to support stablecoin adoption by removing custody fees for USD Coin (USDC) Rewards Account clients. The program applies to hot and cold wallets and offers a 0.2% quarterly interest rate for clients maintaining an average balance of 10,000 USDC or more. The bank also announced plans to roll out support for EURC, Circle’s euro-backed stablecoin.
Stablecoin Regulation Development
The stablecoin market is rapidly evolving, with U.S. lawmakers advancing the GENIUS Act to establish national guidelines for stablecoin regulation. This comes amid growing institutional demand for stablecoins operating within a regulated framework.
AMINA is positioning itself significantly in the crypto market by supporting Ripple USD and other stablecoins, indicating the banking sector's commitment to integrating digital assets.
