Ripple, a financial technology company that offers crypto solutions for businesses, today announced a new partnership with AMINA Bank AG,  to support near real time cross-border payments for AMINA Bank’s clients using Ripple Payments. AMINA Bank, a Swiss Financial Market Supervisory Authority FINMA-regulated crypto bank with global reach, becomes the first European bank to use Ripple’s licensed end-to-end payments solution. 

By using Ripple’s payments infrastructure, AMINA Bank will continue to solve the challenge of integrating blockchain operations with traditional bank rails. AMINA Bank’s integration of Ripple Payments will enable the bank’s clients to reduce the friction that typically arises between blockchain and traditional banking rails. This will enable AMINA Bank’s clients to move funds seamlessly and settle transactions more efficiently without relying on traditional payment infrastructure, making transactions faster, lower cost, and with increased reliability and transparency. 

“Native web3 businesses often run into friction when working with legacy banking systems,” said Myles Harrison, Chief Product Officer at AMINA Bank. “This is particularly the case for cross-border stablecoin transactions which traditional banks are yet to widely adopt. Our clients need payment infrastructure that can handle both fiat and stablecoin rails simultaneously, but traditional correspondent banking networks weren't designed to support this. With Ripple’s support, we are now able to significantly increase our capability, reducing cross-border friction and helping our crypto-native clients maintain their competitive edge.”

AMINA Bank’s adoption of Ripple Payments underscores its commitment to using cutting-edge technology to maintain a competitive edge and expand its core banking services by enabling the bank to better serve its clients – both crypto-native companies and traditional financial institutions who have embraced crypto.

"Our partnership with AMINA Bank enables them to serve as the on-ramp for digital asset innovators into traditional financial infrastructure,” said Cassie Craddock, Managing Director, UK & Europe at Ripple. “Through our licensed payments technology we are providing a crucial bridge between fiat and blockchain rails to AMINA Bank’s clients, giving them access to seamless payments using Ripple USD (RLUSD) and other stablecoins, as well as the ability to make rapid payouts in multiple currencies. AMINA Bank embodies the forward-thinking approach needed to advance wider adoption of digital assets technology and we’re proud to support them in serving their clients with the most secure, resilient and compliant digital asset technology on the market.”

The partnership extends the existing relationship between Ripple and AMINA Bank, which saw AMINA Bank become the first bank globally to support RLUSD earlier this year, when it began offering custody and trading services to its clients holding RLUSD.

Thanks to its secure and reliable payment rails, Ripple Payments has expansive global coverage representing more than 90% of the daily FX markets and processing more than $95 billion in volume. Ripple’s licensed payments solution is now available in Australia, Brazil, Dubai, Mexico, Singapore, Switzerland, and the U.S.