AMINA, a Swiss bank, has become the world’s first globally operating bank to offer Ripple’s RLUSD. It began hosting trading and custody services immediately upon the announcement.
Ripple is integrating RLUSD with TradFi across the board, applying for its own bank license earlier this week. If it receives such a license, it would gain new stablecoin opportunities, but XRP might not directly benefit.
AMINA Bank’s RLUSD Services
Ripple, one of the biggest altcoin issuers, has been making some important moves with its RLUSD stablecoin lately.
Last month, the asset became the industry’s fastest-growing stablecoin, thanks to regulatory breakthroughs and business deals. This AMINA Bank partnership will boost RLUSD even further, bringing Ripple’s stablecoin to traditional banks:
According to AMINA’s press release, it is now the world’s first regulated bank to offer RLUSD services. Users who hold RLUSD can trade and custody it on the platform, but the firm plans to provide additional services in the upcoming months.
The firm didn’t specify any details about these plans, but it has already integrated RLUSD support into mobile and desktop platforms.
AMINA’s commitment to RLUSD represents a new milestone in Ripple’s long-term strategy. Earlier this week, the firm applied for a bank license in the US, focusing on a new expansion sector after abandoning the SEC cross-appeal.
This license would significantly impact RLUSD’s trajectory, but the SEC verdict would limit any gains for XRP. In other words, such a move emphasizes a desire to further integrate the stablecoin with TradFi.
RLUSD already has a market cap of $440 million, and its recent growth may increase this number even further.
Ultimately, AMINA’s RLUSD integration is just one piece of the puzzle. The firm explained that it can offer the stablecoin to its client base, but legal and regulatory restrictions may limit overseas users’ access, depending on jurisdiction.
Still, RLUSD is part of Switzerland’s banking sector now, and it reflects Ripple’s cross-border ambition with the stablecoin.
