- Ripple expands RLUSD supply by 16 million tokens.
- AMINA Bank to support RLUSD services.
- Stablecoin aims to attract institutional interest.
Ripple has minted 16 million RLUSD, its US dollar-pegged stablecoin, at its treasury as Switzerland-based AMINA Bank offers support through custody and trading services.
The decision to mint additional RLUSD tokens is part of Ripple’s strategy to enhance liquidity and expand its stablecoin offerings within the cryptocurrency sector.
Ripple minted 16 million RLUSD, expanding its US dollar-pegged stablecoin supply. AMINA Bank, regulated by FINMA, supports with custody services. Ripple aims for transparency and compliance, partnering with institutions like AMINA Bank.
The expansion of RLUSD strengthens market presence and liquidity, increasing supply to over $440 million. AMINA’s support targets high-net-worth individuals and institutions, offering regulated banking services in the stablecoin market.
The minting of 16 million RLUSD boosts the stablecoin’s visibility in global markets. Institutional participation is expected to rise, given the regulated structure and compliance focus.
“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. Ripple’s commitment to transparency and compliance makes them ideal collaborators as we continue our mission to expand institutional-grade digital asset services.” — Myles Harrison, Chief Product Officer, AMINA Bank.
Ripple’s move aligns with similar strategies by stablecoins like USDT and USDC. Institutional boosts drove increases in liquidity and market activity, with RLUSD likely to mirror these effects in regulated markets.
Overall, the minting of RLUSD is anticipated to bolster Ripple’s institutional credibility. Potential regulatory outcomes include gaining a US national banking license, which could further secure RLUSD’s market position.
