AMINA Bank AG, a Swiss-regulated financial institution, has announced its integration of the USDG stablecoin from Paxos as of December 2. This strategic move marks AMINA”s membership in the Global Dollar Network, aimed at enhancing digital dollar liquidity and ensuring compliance for professional investors.
The adoption of USDG allows AMINA Bank to offer custody, trading, and a rewards program, which includes an enticing 4% annual return for clients holding USDG. The integration is designed to cater to the increasing institutional demand for compliant and regulated digital dollar assets.
USDG is a stablecoin backed by the US dollar and issued by Paxos Digital Singapore, under the oversight of the Monetary Authority of Singapore. With this collaboration, all institutional and professional clients at AMINA Bank can now access the stablecoin, facilitating a broader suite of regulated stablecoin offerings.
The core of this integration enables clients to hold and trade USDG while participating in a specialized rewards program. The inclusion in the Global Dollar Network connects AMINA Bank to a global ecosystem of enterprises dedicated to promoting the digital dollar”s adoption.
Myles Harrison, Chief Product Officer of AMINA Bank, emphasized the significance of this development, stating, “USDG custody, trading, and rewards represent the latest expansion of our regulated stablecoin offering, continuing our leadership in bringing institutional-grade digital dollar access to professional investors.”
AMINA Bank has been regulated by FINMA since 2019, holding various licenses in regions such as Abu Dhabi and Hong Kong. The integration of USDG complements the bank”s existing stablecoin offerings, which include USDT, USDC, EURC, and Ripple USD (RLUSD). This diversification provides clients with enhanced exposure to both digital dollar and euro infrastructures.
USDG adheres to institutional standards, with reserves primarily consisting of US government bonds, ensuring a transparent and stable backing for its circulating supply. This latest move positions AMINA alongside major global platforms and institutions like Robinhood, Kraken, OKX, Galaxy, Anchorage, and Bullish within the Global Dollar Network, signaling a robust industry trend toward integrating stablecoins into traditional finance.
Nick Robnett, Head of Crypto Business Development at Paxos, expressed enthusiasm about AMINA Bank joining the Global Dollar Network, noting the growing institutional demand for secure and compliant access to digital dollar services.
This integration signifies a pivotal shift towards regulated banks acting as primary gateways to digital assets, fostering liquidity within a formal compliance framework. By adopting USDG and engaging with the Global Dollar Network, AMINA Bank enhances interoperability for its institutional clients across a global network of regulated financial entities.
The rewards program linked to USDG holdings suggests a trend where regulated institutions explore avenues to deliver value and attractive yields for corporate treasuries and large investors, provided they meet the necessary regulatory and compliance standards. This strategic direction is anticipated to improve cross-border efficiency and payment finality.
Harrison reiterated the vision for AMINA Bank, stating, “Our stablecoin rewards program allows clients to earn up to 4% annual rewards on USDG holdings, reflecting our commitment to delivering value through compliant innovation.” He added that being part of the Global Dollar Network connects AMINA with financial institutions actively developing gateways for the widespread adoption of stablecoins.
