AMINA Bank now offers custody and trading of RLUSD for institutional clients. This includes corporations, professional investors, and other financial institutions. The bank’s backing is a significant shift as it allows more traditional investors to step into the stablecoin space with a regulated partner.
Myles Harrison, Chief Product Officer at AMINA Bank, said,
Ripple’s commitment to transparency and compliance make them ideal collaborators as we continue our mission to expand institutional-grade digital asset services.
Just before AMINA’s announcement, Ripple submitted its application to the U.S. Office of the Comptroller of the Currency to secure a national banking charter. If granted, Ripple would be allowed to operate nationwide without the need for state-level approval and hold RLUSD reserves under federal oversight.
Brad Garlinghouse, Ripple CEO, also confirmed that the company applied for a Master Account with the U.S. Federal Reserve. This would allow direct access to the central banking system.
This access would allow us to hold RLUSD reserves directly with the Fed and provide an additional layer of security to future-proof trust in RLUSD, Garlinghouse said.
The timing is strategic, as lawmakers prepare to implement the GENIUS Act. This law would require stablecoin issuers to back tokens with real assets and submit to federal regulation. By applying for a banking license now, Ripple is moving in the same direction as Circle and Fidelity, who are also seeking similar approvals.
AMINA Bank’s support reflects a larger shift where regulated financial institutions are starting to work with tokenized dollar providers, particularly those serving businesses. While RLUSD still trails giants like USDC and USDT in total market size, its activity ratio shows increased usage. The token’s volume-to-market-cap ratio over the past 24 hours reached 8.85%, pointing to stronger transactional behavior.
Since its launch in December 2024, RLUSD has processed $10 billion in volume. It is fully backed by U.S. dollar deposits, government bonds, and other cash equivalents to ensure a stable value. Major exchanges like Gemini, Kraken, and Bitget already list the token.
RLUSD has increased significantly on Ethereum in recent months, with its circulating supply growing four times since January. Its design includes additional security features that cater to institutional preferences, giving it an edge among risk-conscious clients.
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