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Switzerland-based Amina Bank has announced an expansion of its partnership with Circle through the Circle Alliance Programme, further strengthening its position in the stablecoin market.
The expanded partnership, announced on August 29, 2021, reinforces Amina Bank's role in bridging traditional and digital finance. Over the years, Amina Bank has transacted billions in USDC and EURC through its FINMA-regulated banking system.
Amina Bank is now offering a stablecoin rewards programme to complement its custody services. Clients holding at least 10,000 USDC or 10,000 EURC will be eligible for quarterly interest payments, distributed in the fiat currency backing the respective stablecoin. The minimum non-compounding rate is set at 0.2% annually.
Circle, a global financial technology firm, acknowledged Amina's participation in the Alliance Programme. In a statement, Circle wrote that Amina Bank, as a member of the Circle Alliance Program, helps individuals and institutions transact with confidence across a global infrastructure.
Amina Bank has also partnered with Ripple to offer custody and trading for Ripple USD (RLUSD). This makes Amina Bank the first global bank to launch custody and trading for Ripple USD (RLUSD).
The partnership between Amina Bank and Circle reinforces a shared vision of embedding stablecoins within a regulated, institution-ready framework. Amina Bank distinguishes itself through Swiss oversight and segregated custody, offering a degree of security compared to higher-risk or opaque custodial models common in the digital asset sector.
However, it's worth noting that Amina Bank's stablecoin rewards programme is not available to US persons and residents of the European Economic Area.
The aim of Amina Bank is to strengthen trust in stablecoin use, and with these expansions, it seems they are well on their way. The founder or CEO of Amina Bank is not identified in the provided search results.
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