Swiss Crypto-Focused Bank Amina Bank started offering client services with Ripple USD (Rlusd)Ripples recently launched stableecoin tied to the US dollar on Thursday.
The company has claimed to boast rights to become the first global operating bank to support RLUSD, according to a press release shared with Coindesk.
The bank said it would initially provide custody and trade for RLUSD, targeting institutional customers and professional investors seeking compatible stablecoins. The bank plans to expand services with token in the coming months.
The move is coming as stableecoins are increasingly becoming part of financial systems and payments, with jurisdictions that introduce rules to regulate the asset class.
Stableecoins are an asset class of $ 250 billion and a fast -growing group of Cryptocurrencies, with their prices tied to predominantly Fiat currency such as the US dollar. Ripple’s RLUSD, supported by US Treasury and regulated by the New York Department of Financial Services, has a supply of $ 430 million.
Amina said it is aiming to bridge traditional banking and cryptoinfrastructure, giving her customer base access to new financial instruments with regulatory protection frames. Based in Zug and licensed by Switzerland’s Finma, the bank also runs regulated nodes in Hong Kong and Abu Dhabi.
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