AMINA Bank Partners Ripple for RLUSD Stablecoin in Europe

Swiss-based AMINA Bank has announced a significant partnership with Ripple, providing custody and trading services for Ripple’s RLUSD stablecoin. This collaboration positions RLUSD within a regulated banking environment, offering institutional and private clients a stable and compliant asset for their financial operations. The move is a strategic entry for Ripple into the European market, aligning with the Markets in Crypto-Assets (MiCA) regulatory framework.

AMINA Bank, formerly known as SEBA Bank, has been a pioneer in regulated digital asset services since receiving its FINMA license in 2019. The bank’s involvement provides RLUSD with a foundational piece of infrastructure for its European operations, establishing a regulated European corridor for Ripple’s stablecoin. This partnership is available to AMINA Bank’s client base, enhancing the stablecoin’s accessibility and utility within the region.

Ripple’s RLUSD stablecoin has already secured approval from key regulatory bodies, including the New York Department of Financial Services and the Dubai Financial Services Authority. Additionally, as part of a $1.25 billion acquisition, Ripple is integrating RLUSD into the prime brokerage platform Hidden Road to serve as collateral between crypto and traditional assets. The stablecoin is also live on the Ripple Payments platform, used by enterprise clients like BKK Forex and iSend for cross-border treasury operations.

The selection of a Swiss bank is notable due to Switzerland’s DLT Act, which offers a specific legal framework for digital securities and clarity for custodians. This legislation helps create a predictable operating environment, attracting digital asset firms to the region. The partnership represents an early stage in the stablecoin’s lifecycle, with establishing broader liquidity remaining a key next step. The transparency and frequency of RLUSD’s reserve attestations will also measure its long-term standing.

AMINA Bank’s decision to partner with Ripple was based on the stablecoin’s structure and Ripple’s commitment to compliance. Myles Harrison, AMINA Bank’s Chief Product Officer, highlighted the bank’s commitment to integrating “cutting-edge products” and noted that Ripple’s transparency makes them “ideal collaborators.” This partnership is part of Ripple’s broader strategy to build compliant infrastructure and align with regulatory requirements, positioning RLUSD as a reliable asset in the stablecoin wars.

Interestingly, AMINA is partnered with Deutsche Bank-backed Swiss firm Taurus, which received approval from FINMA to offer tokenized securities to retail investors through the TDX marketplace. This additional layer of collaboration further strengthens the regulatory and operational framework for RLUSD, ensuring its compliance and reliability within the European market.