Swiss crypto-focused bank AMINA Bank started offering clients services with Ripple USD (RLUSD), Ripple’s recently launched stablecoin pegged to the U.S. dollar on Thursday.
The firm has claimed the bragging rights of becoming the first globally operating bank to support RLUSD, according to a press release shared with CoinDesk.
The bank said it would initially provide custody and trading for RLUSD, targeting institutional clients and professional investors seeking compliant stablecoins. The bank plans to expand services with the token in the coming months.
The move comes as stablecoins are increasingly becoming part of financial systems and payments, with jurisdictions putting rules in place to regulate the asset class.
Stablecoins are a $250 billion asset class and a rapidly growing group of cryptocurrencies, with their prices pegged to predominantly fiat currencies like the U.S. dollar. Ripple’s RLUSD, backed by U.S. Treasuries and regulated by the New York Department of Financial Services, has a $430 million supply.
AMINA said it aims to bridge traditional banking and crypto infrastructure, giving its client base access to emerging financial instruments with regulatory guardrails. Based in Zug and licensed by Switzerland’s FINMA, the bank also operates regulated hubs in Hong Kong and Abu Dhabi.
Read more: Ripple Applies for Federal Bank Trust Charter, XRP Jumps 3%
