Ripple Payments partnered with Swiss crypto bank Amina to plug its fiat-to-stablecoin payment infrastructure into the FINMA-regulated institution.
The payments subsidiary of blockchain services company Ripple has partnered with Swiss bank Amina to provide it with access to its payment infrastructure.
According to a Friday Ripple Payments announcement, the company will allow Amina to “settle transactions more efficiently without relying on traditional payment infrastructure, making transactions faster, lower cost, and with increased reliability and transparency.” This builds on a previous relationship between the companies, with the bank’s integration of the Ripple USD (RLUSD) stablecoin happening back in July.
The move also reinforces Ripple’s presence in Europe, with Amina being a Swiss Financial Market Supervisory Authority-regulated financial institution. The bank’s Austrian subsidiary also holds a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) granted by Austria’s Financial Market Authority in October.
