Ripple Secures Breakthrough Banking Adoption in Europe: Details

The blockchain-based financial tech company has notched a fresh partnership with AMINA Bank AG to support near real-time cross-border payments for the latter’s clients using Ripple Payments. AMINA Bank’s CPO noted that native web3 businesses often run into friction when working with legacy banking systems, which is why the organization believes instant cross-border payments are necessary. Ripple Payments’ integration into AMINA Bank’s operations will allow the latter’s clients to reduce the friction typically arising between blockchain and traditional banking rails. It will enable its customers to move funds seamlessly and settle transactions more efficiently without relying on traditional payment infrastructure. This should make transactions faster, while also reducing costs, and would increase reliability and transparency. 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, resilien,t and compliant digital asset technology on the market,” commented Cassie Craddock, Managing Director, UK & Europe at Ripple. It’s worth noting that this collaboration builds on a previous one between the two parties, as AMINA Bank became the first such institution globally to support Ripple’s native stablecoin, RLUSD. AMINA Bank was founded in Zug, Switzerland, in April 2018 and categorizes itself as a “pioneer in the crypto banking industry.” It received the Swiss Banking and Securities Dealer License from the Swiss Financial Market Supervisory Authority (FINMA) in 2019. The post Ripple Secures Breakthrough Banking Adoption in Europe: Details appeared first on CryptoPotato .