Ripple's RLUSD stablecoin saw a 20% surge in trading volume within 24 hours after receiving support from Switzerland's AMINA Bank, making it the first fully regulated bank to back RLUSD.
AMINA Bank now offers custody and trading of RLUSD for institutional clients, marking a significant shift that allows traditional investors to enter the stablecoin space with a regulated partner.
Ripple applied for a national banking charter in the U.S. to operate nationwide and requested a Master Account with the U.S. Federal Reserve to enhance security by holding RLUSD reserves directly with the Fed.
The move by AMINA Bank and Ripple's application for banking licenses align with upcoming stablecoin regulation changes, indicating a changing attitude in traditional finance with more regulated financial institutions collaborating with tokenized dollar providers.