Ripple Update: Swiss Crypto Bank AMINA Becomes First to Back RLUSD Stablecoin
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Swiss crypto-focused bank AMINA Bank has begun offering clients services with Ripple USD (RLUSD), Ripple's newly launched stablecoin pegged to the U.S. dollar, as of Thursday. The firm asserts it is the first globally operating bank to support RLUSD, according to a press release shared with industry sources.
The bank plans to initially provide custody and trading services for RLUSD, targeting institutional clients and professional investors interested in compliant stablecoins. AMINA aims to expand its services with the token in the coming months.
This initiative aligns with the growing integration of stablecoins into financial systems and payments, as jurisdictions implement regulations for this asset class. Stablecoins represent a $250 billion market and are a rapidly expanding segment of cryptocurrencies, with their values pegged primarily to fiat currencies such as the U.S. dollar. Ripple's RLUSD, backed by U.S. Treasuries and regulated by the New York Department of Financial Services, has a supply of $430 million.
AMINA seeks to bridge traditional banking with cryptocurrency infrastructure, providing its clients access to emerging financial instruments under regulatory frameworks. Based in Zug, the bank is licensed by Switzerland’s FINMA and also operates regulated hubs in Hong Kong and Abu Dhabi.
