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Swiss AMINA Bank Launches RLUSD Stablecoin Service for Institutions
Swiss crypto-focused bank, AMINA, has launched a new stablecoin service catering to institutional clients and professional investors. The bank has partnered with Ripple to introduce the RLUSD stablecoin, which is fully backed by cash or short-term U.S. Treasury bills.
The move marks another significant milestone in the intersection of traditional finance and emerging crypto infrastructure. The announcement comes hot on the heels of a regulatory shift in the United States, allowing banks to hold cryptocurrency reserves. This pivot has opened doors for stablecoins to enter traditional banking frameworks and managed risk trading systems.
AMINA Bank’s RLUSD service provides institutional clients with a regulated and secure means to custody and trade Ripple’s U.S. dollar-backed stablecoin. The bank’s partnership with Ripple ensures that each RLUSD token is backed by at least one USD in cash or short-term Treasury securities, held in reserve according to the New York Department of Financial Services.
By partnering with Ripple, AMINA Bank aims to provide its clients with a secure and regulated means of accessing digital assets, thereby strengthening its position as a major player in the growing stablecoin market.
Source: cryptotale.org
