Ripple, the provider of enterprise blockchain and crypto solutions, has partnered with AMINA Bank, marking the first time a European bank has adopted its end-to-end payments solution.
The collaboration aims to streamline cross-border payments for the Swiss-regulated crypto bank, allowing its clients to settle transactions in minutes, 24 hours a day, 365 days a year, without relying on traditional banking infrastructure.
Bridging the gap between Web3 and legacy banking
For many crypto-native businesses, moving funds across borders remains a friction point due to the limitations of legacy correspondent banking networks, which often struggle to support the speed and 24/7 nature of the digital asset economy.
By integrating Ripple Payments, AMINA Bank intends to bridge this gap, providing a “crucial bridge” between fiat currencies and blockchain rails. The solution enables the concurrent handling of fiat and stablecoin transactions, a capability that traditional networks were not originally designed to support.
Myles Harrison, chief product officer at AMINA Bank, highlighted the operational necessity of the move: “Native web3 businesses often run into friction when working with legacy banking systems. This is particularly the case for cross-border stablecoin transactions which traditional banks are yet to widely adopt.”.
He added: “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.”.
Deepening a strategic relationship
This partnership represents an expansion of an existing relationship between the two firms. Earlier this year, AMINA Bank became the first bank globally to support Ripple’s US dollar-pegged stablecoin, RLUSD, by offering custody and trading services to its clients.
Cassie Craddock, managing director, UK & Europe at Ripple, commented: “Our partnership with AMINA Bank enables them to serve as the on-ramp for digital asset innovators into traditional financial infrastructure. Through our licensed payments technology we are providing a crucial bridge between fiat and blockchain rails to AMINA Bank’s clients.”.
AMINA Bank, headquartered in Zug, Switzerland, is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and has expanded its regulatory footprint to Abu Dhabi and Hong Kong.
The move further solidifies Ripple’s presence in the institutional banking sector. According to the company, its payments network now covers more than 90 per cent of daily FX markets and has processed over $95 billion in volume. Ripple’s licensed solutions are currently available in key markets including Australia, Brazil, Dubai, Mexico, Singapore, Switzerland, and the U.S..