AMINA is now the first crypto bank in Switzerland to officially support Ripple’s RLUSD. This is a significant milestone for fintech. AMINA’s custody and trade services will be available to all RLUSD owners at launch. In the next few months, AMINA aims to expand their services. According Myles Harrison AMINA Chief Product Officer “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.“
Are Ripple and Stablecoins Set to Make a Splash?
Over the past few years, stablecoins have seen a tremendous rise in demand. The GENIUS Act (Guiding National Innovation and Stablecoins in the United States) recently passed through the US Senate. The House of Representatives is still awaiting the bill’s approval. The bill is expected to become law in the near future. As soon as the bill reaches President Trump’s desk, it is likely to be approved. Ripple’s entrance into the stablecoin space could not come at a worse time.
Please Read This: Do Banks Need Ripple XRP to Facilitate Money Transfers?
Market capitalization for RippleUSD (RLUSD) is $469.21million. The project is currently ranked 164th in terms of market capital. This project is likely to climb up the charts in the near future.
Does XRP have any Benefit?
XRP is not directly linked to Ripple’s project of stablecoin. XRP may benefit if RLUSD becomes more popular.
Ripple’s token XRP seems to follow the resurgence of the entire market. XRP has traded in the green today. The asset’s chart shows a 3.8% gain on the daily, 3.8% increase in the weekly, 5.4% for 14-day, 3% over last month and 374.1% in July 2024.
The SEC will also make its decision regarding a spot-XRP ETF. A price surge could be seen if the ETF application is approved.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
