AMINA Bank and Ripple Partner to Boost Crypto Adoption

The race in the hundred-billion-dollar stablecoin market is becoming increasingly intense, with participation from many major tech and financial players. In this context, Ripple is making a significant step forward with its new stablecoin product, RLUSD, as it gains crucial support from a licensed financial institution.

On Thursday, July 3rd, the Swiss crypto bank AMINA Bank officially announced that it will offer services related to the RLUSD stablecoin to its clients. Notably, this makes AMINA Bank the first bank with multinational operations in the world to integrate and support Ripple's newly launched stablecoin.

In the initial phase, AMINA Bank stated it will focus on providing custody and trading services for RLUSD to its institutional and professional investor clients. The bank also plans to gradually expand other related services in the coming months, signaling a long-term commitment to the partnership.

The decision by a licensed Swiss bank like AMINA to choose RLUSD is no coincidence. It stems from the stablecoin's key attributes of safety and regulatory compliance. RLUSD is fully backed by top-tier, highly liquid assets, including U.S. Treasury bills. More importantly, it is supervised by the New York Department of Financial Services (NYDFS), one of the strictest and most respected financial regulators in the United States. This transparency and clear regulatory framework are key factors that attract traditional financial institutions.

For Ripple, the partnership with AMINA is a strategic win. Gaining early support from a multinational bank provides RLUSD with immense credibility and an effective distribution channel to reach an institutional client base. This is a significant competitive advantage as RLUSD competes with established giants like Tether's USDT and Circle's USDC. Currently, RLUSD's circulating supply has reached $430 million, a figure that shows promising initial growth.

Overall, this event is another testament to how the lines between traditional and digital finance are gradually blurring. It shows that institutions are not just looking at size, but also highly value regulatory compliance and secure backing structures when choosing a stablecoin partner.