Amina Bank’s Commitment to Regulated Stablecoins
Amina Bank, a Swiss financial institution under the supervision of the Swiss Financial Market Supervisory Authority (FINMA), is making significant strides in the realm of regulated stablecoins. On August 29, the bank announced its expanded collaboration with Circle as part of the Circle Alliance Program, reinforcing its commitment to the stablecoin sector. Amina Bank has highlighted its impressive volume of transactions, reporting billions processed in USDC and EURC within its regulated banking framework.
Partnership with Circle
In a statement about this new phase of partnership, Amina Bank expressed excitement about enhancing its cooperation with Circle, aiming to optimize the use of stablecoins for its clientele.
The bank’s commitment to fostering confidence in stablecoin transactions is evident as it points to Circle’s leadership in stablecoin utility. Amina Bank insists its infrastructure supports secure and reliable transactions for both individuals and organizations globally.
Bridging Traditional Banking and Crypto
Circle formally acknowledged Amina’s role in the Alliance on August 28, noting that the collaboration effectively bridges the gap between traditional banking and the crypto space, making stablecoins like USDC and EURC accessible to a broader audience.
Both companies envision a future where stablecoins are seamlessly integrated into a regulated financial environment.
Rewards Program for Stablecoin Holders
To enhance client benefits, Amina Bank also launched a rewards program for stablecoin holders who maintain a minimum balance of 10,000 USDC or 10,000 EURC. Participants in this program can earn quarterly interest in the corresponding fiat currencies, with an annual non-compounding interest rate starting at 0.2%, though this offer is not available to U.S. residents or individuals from the European Economic Area.
Expansion of Digital Asset Services
In a further expansion of its digital asset services, Amina has joined forces with Ripple, becoming the first global banking institution to offer custody and trading options for Ripple USD (RLUSD). This move highlights Amina’s strategy of providing institutions with regulated and secure access to the growing stablecoin market.
