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bitcoin
Bitcoin (BITCOIN)
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ethereum
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AMINA Bank Becomes First Global Bank to Support RLUSD Stablecoin

Highlights:

  • The first global bank to support the trading and custody services of RLUSD.
  • Ripple’s RLUSD stablecoin is now available to AMINA’s institutional and corporate clients.
  • The RLUSD support is the next step in AMINA’s stablecoin expansion phase.

The Swiss-based AMINA Bank has announced the launch of RLUSD trading and custody services. The bank is the first in the world to support Ripple-supported stablecoin RLUSD, which is backed by the US dollar and designed to be stable and compliant.

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AMINA is based on the Swiss financial rules regulated by FINMA. This regulatory background helps AMINA gain credibility with institutional investors. With the launch, the bank becomes a more dominant participant in the field of digital assets. The trading of RLUSD will start on July 3 for approved clients in accepted jurisdictions.

The offering will first be geared towards institutional, corporate, and professional investor segments. Retail users can also access it later, depending on the clarity of the regulatory frameworks. RLUSD would effectively simplify the exposure to digital assets for clients who demand low-volatility instruments. This offering aligns with the surge in stablecoin usage in the banking system.

Expanding Services Amid Growing Demand

The demand for regulated stablecoins by institutions remains on the rise, and AMINA Bank is capitalizing on this trend by developing the scope of its digital assets. The bank has incorporated RLUSD into its services after its USDC initiatives. Clients can safely store and trade the stablecoin, following the trusted standards set by Swiss banks.

At the beginning of the year, AMINA eliminated custody fees on USDC rewards accounts. The shift sought to promote the usage of stablecoin in hot and cold storage forms. The bank has also suggested that it plans to facilitate other euro-collateralized stablecoins like the EURC. The inclusion of RLUSD adds even more diversity to the bank in the stablecoin offering.

The move reaffirms the decision of AMINA to offer institutional-quality crypto services. Through the incorporation of RLUSD, the bank paves its way to a new generation of stable digital assets. The infrastructure provided by AMINA can help investors who want to achieve a highly effective and safe exposure to coins backed by USD. Clients consequently have access to well-regulated and transparent services.

Institutional Access to RLUSD Now Live

Commencing today, RLUSD support is available to various regions with approved clients. The clients are provided with complete access to trading and custody via their AMINA bank accounts. Additional features and integration possibilities might come along as the service matures. Expansion efforts are likely to take place in the next several months.

Working together with Ripple, AMINA can take advantage of an established brand in blockchain finance. RLUSD currently has a market cap of above 440 million, which demonstrates its increased significance. The adoption of the stablecoin is likely to grow further due to the increased demand for regulated digital assets by institutions. The introduction of RLUSD trading at AMINA is one of the indicators of shifting times in banking. Traditional finance is shifting to compliant digital currencies supported by blockchain technology. RLUSD has emerged as one of the fastest-growing USD-backed stablecoins in this environment.

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