Swiss bank AMINA Bank AG has announced the adoption of Ripple Payments, a payment solution developed by American company Ripple Labs. This is to facilitate international crypto transfers and payments to customers in near real-time.
With this integration, AMINA First European bank to use this licensed infrastructure It is the issuer of XRP, the fifth largest cryptocurrency on the market.
According to Ripple, the initiative aims to reduce the friction that typically occurs between operations based on decentralized networks and traditional banking channels.
The adoption of Ripple Payments will allow bank customers to move funds “seamlessly” without relying solely on traditional financial infrastructure. Translating this, Deliver faster transactions, lower costs, and greater transparency.
Miles Harrison, chief product officer at AMINA Bank, noted that companies from the crypto industry face challenges when operating traditional banking systems. This is especially true when it comes to cross-border payments using stablecoins.
In this sense, he emphasized that: Cooperation with Ripple expands bank’s operational capabilities Serve both fiduciary and digital channels simultaneously.
This partnership expands on the existing relationship between the two companies. Earlier this year, AMINA became the world’s first bank to offer storage and trading services for the Ripple USD (RLUSD) stablecoin.
According to company data, Ripple Payments covers more than 90% of the daily currency market.. On top of that, Processing volume of over $95 billion. This solution is available in jurisdictions such as Switzerland, the United States, and Singapore.
The move comes amid increasing integration of digital assets with traditional financial systems. This week, the U.S. Office of the Comptroller of the Currency (OCC) approved an application to form a national trust bank associated with companies in the sector, including Ripple. As reported by CriptoNoticias, this will allow them to provide storage services.
