Ripple Payments has joined forces with Swiss bank Amina to integrate its fiat-to-stablecoin payment system. This partnership allows Amina to leverage Ripple’s infrastructure, enabling more efficient transaction settlements without traditional banking dependencies, thus enhancing transaction speed, cost-efficiency, and transparency.

The collaboration builds upon Amina’s previous adoption of the Ripple USD (RLUSD) stablecoin, which was integrated in July. This move strengthens Ripple’s foothold in Europe, as Amina is a bank regulated by the Swiss Financial Market Supervisory Authority. Furthermore, Amina’s Austrian branch operates under the European Union’s Markets in Crypto-Assets Regulation, enhancing its regulatory compliance.

Myles Harrison, Amina’s Chief Product Officer, noted that legacy banking systems often present obstacles for businesses in the web3 space and emphasized that stablecoins can address these hurdles, especially in cross-border transactions that have yet to be widely accepted by traditional banks.

Cassie Craddock, Ripple’s UK and Europe Managing Director, stated that this partnership positions Amina to facilitate the entry of digital asset innovators into traditional financial systems, establishing Ripple Payments as an essential conduit between fiat currencies and blockchain technology, improving stablecoin transactions.

Finally, this alliance represents Ripple’s ongoing mission to integrate blockchain solutions into traditional finance, including their recent efforts to combine various financial services and expand operations globally.