AMINA Bank Offers Benefits for Stablecoin Users
Swiss-based AMINA Bank (formerly known as SEBA Bank) has eliminated custody fees for holders of USD Coin (USDC) in an effort to attract more stablecoin users. This initiative includes free custody services for both hot and cold wallets and offers quarterly rewards along with asset protection, as stated in the bank’s press release.
Expanding the Offering to EURC
In addition to removing USDC fees, AMINA Bank plans to include EURC, Circle’s euro-backed stablecoin, in its program in the near future.
Clients holding USDC will receive quarterly rewards, directly paid by the bank.This offering comes with no additional costs, making stablecoins more appealing to users.
Myles Harrison, Chief Product Officer at AMINA Bank, emphasized the bank’s commitment to supporting the crypto industry:
“As one of the first regulated banks to offer free USDC custody with rewards for holdings in both hot and cold wallets, AMINA Bank solidifies its commitment to fostering stablecoin growth and adoption.”
Stablecoins Gaining Momentum
Experts believe that 2025 will be a pivotal year for stablecoins. Their use is expected to shift from trading to real-world applications, such as instant payments.
In a post on January 1 on the X platform (formerly Twitter), Haseeb Qureshi, Managing Partner at Dragonfly Capital, predicted significant growth for stablecoins.
Regulatory Clarity: Qureshi suggested that the US could introduce bank-issued stablecoins by the end of the year, thanks to clearer regulations.Dominance of Established Players: He also expects that current issuers like Tether will maintain their market dominance, particularly with the support of key figures like Howard Lutnick, a potential Secretary of Commerce.
Conclusion
With this move, AMINA Bank positions itself as a pioneer in stablecoin support, potentially inspiring other financial institutions to follow suit. This initiative highlights the growing importance of stablecoins in the cryptocurrency ecosystem and their potential to become a mainstream component of the financial world.
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