In a groundbreaking development for the Ripple ecosystem, Swiss-regulated AMINA Bank has officially become the first bank to offer custody and trading of Ripple USD (RLUSD). The announcement, made on July 3, marks a major step toward institutional adoption of RLUSD as a trusted, compliant stablecoin.
AMINA Bank, regulated by Switzerland’s FINMA, confirmed that its initial offering will include RLUSD custody and trading services for existing clients, with broader access to roll out in the coming months. The bank’s Chief Product Officer, Myles Harrison, emphasized their commitment to integrating secure, next-gen financial products.
“We are proud to be the first bank to support RLUSD and to provide our clients with access to one of the most anticipated digital assets in the market,” said Harrison.
The move comes at a pivotal moment for Ripple, which continues to push toward financial legitimacy and global expansion. RLUSD, which already has a market cap exceeding $440 million, is designed to offer enterprise-grade compliance, clarity, and control. AMINA’s support enables institutions, corporations, and individual investors to access Ripple’s stablecoin directly via mobile and desktop platforms with built-in security.
In tandem with this announcement, Ripple CEO Brad Garlinghouse revealed the company has applied for a national banking license in the U.S., alongside Standard Custody’s Federal Reserve master account application. This reflects Ripple’s deepening involvement in the traditional financial system.
Ripple also partnered with OpenPayd to provide enterprise-grade payment infrastructure and enable minting and burning of RLUSD, streamlining real-time settlements.
XRP Price Surges on the News
XRP responded positively to the development, climbing 4% in the past 24 hours to trade at $2.28. Volume surged by 38%, reflecting strong trader interest. According to Coinglass, XRP futures open interest jumped over 8% to $4.63 billion, signaling continued bullish momentum as the price aims for the $3 mark.
You might also like: Bitcoin Holds $107K as Bitwise Doubles Down on $200K Prediction — BTC Bull Token Presale Nears Cap