AMINA Bank Integrates Ripple’s RLUSD Stablecoin, Revenue Surges 69%

Swiss AMINA Bank, a Zug-based crypto bank, has announced its integration of Ripple’s stablecoin, RLUSD. This move positions AMINA as the first bank globally to directly support the stablecoin, initially offering custody and trading services. The bank plans to expand its services in the coming months, providing clients with access to one of the most anticipated digital assets in the market. Myles Harrison, Chief Product Officer of AMINA Bank, expressed pride in being the first bank to support RLUSD, highlighting the bank's commitment to providing innovative financial solutions.

AMINA Bank, licensed by Switzerland’s FINMA, has recently reported a 69% revenue surge, solidifying its position as Switzerland’s fastest-growing crypto bank. The bank's assets under management (AUM) have also increased by 136% to $4.2 billion, driven by institutional demand. Additionally, AMINA holds licenses from Abu Dhabi’s Financial Services Regulatory Authority (FSRA) and Hong Kong’s Securities and Futures Commission (SFC).

Ripple announced the launch of RLUSD in December 2024, fully backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring price stability at $1. The stablecoin has processed volumes of $10 billion since its launch and has been listed on multiple leading exchanges, including Gemini, Kraken, and Bitget. Since January, the stablecoin has shown a 4x supply on Ethereum, given its majority of circulating supply on the network. Additionally, security features make RLUSD appealing to institutional users.

RLUSD has attained a market cap of $469.29 million and stands as the 164th-largest crypto project by market cap. The stablecoin's growth and recognition in the market highlight its potential as a reliable digital asset. Ripple's application for a national bank charter with the US Office of the Comptroller of the Currency (OCC) and a Master Account with the Federal Reserve further underscores its commitment to regulatory compliance and market trust. If approved, Ripple would have both state and federal oversight, setting a new benchmark for trust in the stablecoin market. This access would allow Ripple to hold RLUSD reserves directly with the Fed, providing an additional layer of security and future-proofing trust in RLUSD.