Swiss crypto-focused AMINA Bank is getting quite the spotlight by rolling out services with Ripple's newly minted stablecoin, RLUSD, pegged to the U.S. dollar. This is big news, folks. The bank proudly announced its first-in-the-world status, making it the first globally operating bank to support RLUSD, an exclusive claim, at least for now.
What’s Next for RLUSD and AMINA Bank?
On Thursday, the bank unveiled its plan to offer custody and trading of RLUSD, targeting institutional clients and professional investors on the lookout for a stable and compliant stablecoin. And, of course, this is just the beginning. AMINA plans to broaden its services with RLUSD in the upcoming months.
As stablecoins continue to invade financial systems worldwide, banks and jurisdictions are quickly setting rules for this rapidly growing $250 billion asset class. Ripple’s RLUSD is no exception. The stablecoin is fully backed by U.S. Treasuries and regulated by the New York Department of Financial Services, with a cool $430 million supply in circulation.
AMINA's ambition? It wants to be the bridge between traditional banking and the crypto world, offering its clients emerging financial instruments, secure and regulatory-approved. Operating out of Zug, Switzerland, the bank is licensed by FINMA and has regulated hubs in Hong Kong and Abu Dhabi. Looks like it’s all systems go for the future of finance!
Gunel Ismayilova
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