- AMINA Bank becomes first global bank to support trading and custody of Ripple’s RLUSD.
- RLUSD market activity surges, with volume up 28.2% following announcement.
- XRP price also rises, signaling increased investor confidence in Ripple’s ecosystem.
Swiss-regulated AMINA Bank has made history by becoming the first global banking institution to provide direct custody and trading services for RLUSD, Ripple’s USD-pegged stablecoin.
The impact of AMINA Bank’s decision has been immediately reflected in the market. RLUSD experienced a 28.2% surge in trading volume within 24 hours of the announcement, reaching $45.6 million.
Ripple’s RLUSD Gets Institutional Boost as AMINA Bank Launches Support
AMINA Bank’s move aligns with its broader strategy to expand digital asset services under Switzerland’s regulatory framework. In addition to RLUSD, the bank previously made headlines for waiving custody fees on USDC accounts, an incentive that drew more stablecoin users to its platform. With plans to add support for Euro-backed EURC in the near future, AMINA is solidifying its place as a pioneer in the regulated crypto-banking space.
The introduction of RLUSD into a banking environment provides increased stability and accessibility for corporate clients seeking blockchain-based alternatives to fiat. This bridge between traditional finance and digital currencies addresses long-standing issues of trust and regulation in the crypto space, particularly as stablecoins begin to play a central role in cross-border payments and decentralized finance.
Ripple’s stablecoin initiative is aimed at bringing greater compliance and utility to the stablecoin market, often criticized for opacity. RLUSD is designed to maintain a 1:1 peg with the U.S. dollar and is backed by U.S. dollar deposits and short-term U.S. Treasuries. Ripple has emphasized transparency and auditability, making it an attractive option for banks seeking regulatory clarity.
Myles Harrison, Chief Product Officer of AMINA Bank, emphasized the importance of aligning with trusted blockchain networks. By collaborating with Ripple, AMINA gains a partner known for its regulatory focus and technical maturity. Harrison noted this partnership is a step toward “scaling institutional-grade digital asset solutions without compromising compliance or security.”
AMINA Bank’s integration of RLUSD into its institutional offerings marks a turning point in banking and blockchain convergence, fostering greater trust in regulated crypto services.
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