Ripple Payments has expanded its footprint in Europe through a new partnership with Swiss crypto bank Amina. The collaboration gives the bank access to Ripple’s fiat to stablecoin payment infrastructure, aiming to speed up transactions, cut costs and improve transparency. This move builds on an existing relationship between the two companies, which began when Amina integrated Ripple’s USD stablecoin RLUSD in July.
Ripple Deepens Ties With Regulated European Institutions
Ripple’s latest partnership reinforces its presence in Europe through a Swiss Financial Market Supervisory Authority regulated institution. Amina’s Austrian arm also holds a licence under the European Union’s Markets in Crypto Assets Regulation, granted by the country’s Financial Market Authority in October. These credentials position Amina as a key traditional finance bridge for Ripple’s onchain ambitions in the region.
Stablecoins Seen As Solution to Legacy Banking Frictions
Amina’s chief product officer Myles Harrison said that web3 native businesses often face hurdles when interacting with traditional banking systems. He noted that stablecoins can solve many of these problems, particularly for cross border transactions that legacy banks have been slow to support. Harrison added that clients increasingly need infrastructure that handles both fiat rails and stablecoin rails at the same time, something traditional networks currently cannot provide.
Ripple Payments Offers Unified Fiat to Stablecoin Infrastructure
Through Ripple Payments, Amina can now deliver services that reduce cross border payment frictions for crypto native clients. Harrison said this capability helps clients maintain an edge in a rapidly evolving digital asset landscape. Ripple’s managing director for the United Kingdom and Europe Cassie Craddock said that Amina now acts as an on ramp for digital asset innovators entering traditional financial systems. Craddock added that Ripple Payments serves as a bridge between fiat environments and blockchain technology, enabling smooth stablecoin transactions.
Ripple’s Wider Push To Bring Traditional Finance Onchain
The Amina collaboration is the latest in a series of partnerships where Ripple has infused blockchain capabilities into traditional finance institutions. Reports from mid November indicated that Ripple is investing about $4 billion to combine prime trading services, treasury tools, payments and custody solutions that rival offerings from established finance players. The company is also pushing globally. Earlier in December, Ripple Labs received approval from Singapore’s central bank to expand payment services which allows it to offer regulated token services and end to end payment solutions throughout the Asia Pacific region. RLUSD also gained approval for institutional use in Abu Dhabi after being recognised as an Accepted Fiat Referenced Token by the local regulator.
