Swiss crypto bank AMINA Bank has started offering services with RLUSD, Ripple’s dollar-pegged stablecoin. In the initial phase, the bank is providing custodial and trading services for RLUSD to institutional and professional investors.
“First in the World”
AMINA positions itself as the first international banking institution to integrate RLUSD into its product offerings, according to a press release. Its target audience includes clients seeking regulated solutions for stable digital assets.
The bank is licensed by Swiss regulator FINMA and also operates through legal entities in Hong Kong and Abu Dhabi. According to the company, the goal is to bridge traditional banking infrastructure with the crypto market by offering clients access to new tools under full compliance.
RLUSD Volume and Its Regulation
RLUSD is issued by Ripple and backed by reserves in the form of U.S. government bonds. Oversight of the asset is handled by the New York State Department of Financial Services. According to CoinMarketCap, the token’s current supply stands at $485.24 mln.
The stablecoin sector continues to grow rapidly, especially amid progress toward the adoption of the GENIUS Act, a legislative initiative focused on regulating such assets. The total market capitalization of stablecoins is around $250 bln.
Ripple Expands Into Traditional Banking
AMINA’s launch of RLUSD services comes as Ripple itself pushes beyond the crypto sector. The company recently submitted an application for a national banking license to the U.S. Office of the Comptroller of the Currency (OCC).
Obtaining such status would allow Ripple to tighten regulatory oversight of its stablecoin issuance and gain access to a broader range of financial services. This could pave the way for gradually integrating RLUSD into traditional payment mechanisms and banking systems.
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