Ripple USD Gets Support From First Global Bank
2025-07-04 06:28:57
Main Idea
AMINA Bank, a Swiss crypto-focused lender, has endorsed Ripple's stablecoin RLUSD, which is issued by Ripple Labs and backed by cash equivalents, marking a significant step in bridging traditional finance and blockchain.
Key Points
1. AMINA Bank supports Ripple's RLUSD, a stablecoin issued by Ripple Labs and backed by cash equivalents under NYDFS supervision.
2. RLUSD is available on both the XRP Ledger and Ethereum, facilitating cross-chain settlements.
3. RLUSD's market capitalization has exceeded $440 million since its launch in mid-December 2024.
4. Ripple has integrated RLUSD into its Ripple Payments platform, which operates in over 70 payout corridors.
5. Ripple is seeking a national bank charter in the US and a Federal Reserve master account to enhance oversight and trust in RLUSD.
Description
Zug-based AMINA Bank, the Swiss crypto-focused lender regulated by FINMA, said on 3 July that it has begun offering custody and over-the-counter trading for Ripple USD (RLUSD), becoming what it calls “the first bank globally” to support the dollar-pegged stablecoin and giving the six-month-old token its first foothold inside the traditional banking system. AMINA Bank Backs Ripple’s RLUSD RLUSD is issued by Standard Custody, a New York-chartered limited-purpose trust company wholly owned by Rippl...
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