AMINA Bank First to Offer Ripple's RLUSD Stablecoin Services

AMINA Bank, a Swiss-regulated financial institution, has made history by becoming the first bank worldwide to support Ripple's RLUSD stablecoin. This move marks a significant milestone in the institutional adoption of regulated stablecoins. Starting July 3, AMINA Bank will offer custody and trading services for RLUSD, providing institutional 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 innovation and client satisfaction.

The RLUSD stablecoin, launched by Ripple in December 2024, is fully backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring price stability at $1. This backing provides a strong foundation for institutional trust and adoption. The stablecoin has already processed volumes of $10 billion since its launch and has been listed on multiple leading exchanges, including Gemini, Kraken, and Bitget. The majority of its circulating supply is on the Ethereum network, further enhancing its appeal to institutional users.

AMINA Bank's support for RLUSD is a testament to Ripple's execution and the potential for RLUSD to become a significant player in the stablecoin market. The bank's early adoption of RLUSD signals a strong vote of confidence in Ripple's technology and the future of regulated stablecoins. AMINA Bank, licensed by Switzerland’s FINMA, has seen a surge in revenue and assets under management (AUM), driven by institutional demand. The bank also holds licenses from Abu Dhabi’s Financial Services Regulatory Authority (FSRA) and Hong Kong’s Securities and Futures Commission (SFC), further cementing its position as a leading player in the crypto banking sector.

In addition to supporting RLUSD, AMINA Bank plans to expand its services in the coming months, enabling its client base to access the RLUSD ecosystem with necessary regulatory guardrails. This move is expected to further enhance the bank's role as a bridge between traditional finance and the digital asset market. 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 the company's commitment to compliance and trust in the stablecoin market. If approved, these applications would grant Ripple access to the US central banking system, allowing it to hold RLUSD reserves directly with the Fed and provide an additional layer of security to future-proof trust in RLUSD.

This move by AMINA Bank is prompted by an increase in demand by companies and investors for safer options to store stablecoins. Stablecoins are cryptocurrencies with a fixed price, usually pegged with a real-world asset such as the US dollar. This is because Ripple RLUSD is dollar-pegged, making it interesting to those who would like to have digital money without the huge fluctuations in price. The stablecoin has already processed volumes of $10 billion since its launch and has been listed on multiple leading exchanges, including Gemini, Kraken, and Bitget. The majority of its circulating supply is on the Ethereum network, further enhancing its appeal to institutional users.

Notably, AMINA Bank is controlled by Swiss Financial Market Supervisory Authority (FINMA). It implies that customers can be confident that the bank will take care of online data with high regulations. Safety of the crypto assets is a concern of many due to the presence of scams associated with these assets, but when one is dealing with a regulated bank the one to work with is AMINA then the matter should be taken care of. In addition, AMINA says this is just the beginning. The bank will increase its stablecoin services in the following months. With the provision of custody and trading, AMINA poses to establish a complete platform of delivering stablecoin services. It aspires to assist its clients to transfer funds, pay, and invest using digital assets safely.

The crypto industry has been hit at the right time by the decision of bank. The demand of regulated digital money is increasing. The latest news suggests a significant increase in the usage of stablecoins. Businesses and investors demand less risk and more confidence. It is with this that AMINA desires to call the change by offering RLUSD to its services. In addition, the joint venture might enable Ripple to expand its clientele. Ripple has been on a quest to take the digital assets mainstream. The presence of a reputable Swiss bank will make Ripple more truthful. This can encourage the other banks to do the same as AMINA. In the future, AMINA indicates that it will keep on extending new digital products. The bank does not want to lag behind the trends and satisfy the demand of the clients. Investing in RLUSD is the first example of how AMINA takes up digital innovation.