Crypto-Friendly Swiss Bank Becomes First Global Bank to Support Ripple’s Stablecoin! Here Are the Details

AMINA Bank, based in crypto-friendly Switzerland, has announced that it has launched custody and trading services for Ripple’s newly launched US dollar-pegged stablecoin RLUSD. Swiss Bank AMINA Launches Custody and Trading Services for Ripple’s RLUSD Stablecoin The bank also stated that it has achieved the title of being the first global bank to support RLUSD. According to the bank’s statement today, this new service is initially aimed at institutional clients and professional investors seeking regulatory compliance. AMINA plans to further expand its RLUSD-based services in the coming months. Based in Zug and licensed by the Swiss financial regulator FINMA, AMINA Bank also has regulated operations in Hong Kong and Abu Dhabi. The bank aims to bridge the gap between traditional banking and crypto infrastructure, providing its clients with access to next-generation, regulated financial instruments. AMINA’s move comes at a time when the role of stablecoins in traditional financial systems is rapidly growing, with more and more countries and regions creating legal frameworks to regulate stablecoins. Features of RLUSD Launched by Ripple, RLUSD is backed by US Treasury bonds and regulated by the New York Department of Financial Services (NYDFS). The circulating supply of RLUSD has already reached $430 million. Stablecoins are a crypto asset class that is typically pegged to fiat currencies like the dollar and has reached a total value of $250 billion. AMINA’s support for RLUSD suggests that these assets are gaining greater adoption by traditional financial institutions. “By offering our customers the opportunity to trade new digital assets in a controlled environment, we both support innovation and prioritize security,” the bank said in a statement. AMINA’s integration of RLUSD is interpreted as a development that also strengthens Ripple’s claim in the stable cryptocurrency field. *This is not investment advice. Continue Reading: Crypto-Friendly Swiss Bank Becomes First Global Bank to Support Ripple’s Stablecoin! Here Are the Details

Source: BitcoinSistemi