AMINA Bank in Switzerland has started offering custody and trading services for Ripple USD (RLUSD), becoming the first bank globally to support this stablecoin.
AMINA Bank's decision signifies RLUSD's entry into the traditional banking system, backed by cash reserves supervised by NYDFS and available on the XRP Ledger and Ethereum.
RLUSD's market capitalization has surpassed $440 million since its launch in mid-December 2024, reflecting growing institutional interest in regulated digital currencies.
Ripple has applied for a national bank charter in the US and a Federal Reserve master account through its subsidiary, aiming to enhance trust and compliance in the stablecoin market.