AMINA Bank has announced the removal of custody fees for its Stablecoin Rewards Account clients holding USDC, with plans to extend the service to EURC in the near future. This move comes amidst a surge in the stablecoin market’s capitalisation and reflects AMINA’s ongoing commitment to promoting stablecoin adoption globally.
The bank’s Stablecoin Rewards Account offers both individual and business clients a unique value proposition. Benefits include fee-free custody of USDC in both hot and cold storage, coupled with quarterly rewards on holdings. These rewards allow clients to enjoy the advantages typically associated with fiat currencies, but without the burdens of traditional banking fees.
AMINA has ensured that assets are safeguarded in segregated wallets and held off the bank’s balance sheet. This eliminates counterparty risk and ensures clients’ holdings remain entirely independent from the bank’s liabilities. Clients can also rely on AMINA’s advanced custody technology, which integrates the secure asset vault services expected of a Swiss bank with state-of-the-art protection measures.
USDC and EURC are stablecoins pegged to the US dollar and euro, respectively. Fully backed on a 1:1 basis by reserves, they offer unparalleled stability and accessibility, providing holders with faster, cost-efficient transactions and enhanced liquidity in the crypto ecosystem. These stablecoins have gained traction for use in digital transactions, remittances, and as a store of value, making them indispensable to AMINA’s broader mission of empowering the global crypto industry.
“As one of the first regulated banks to offer fee-free custody of USDC with rewards on holdings across both hot and cold wallets, AMINA Bank is solidifying its commitment to advancing the growth and adoption of stablecoins,” said Myles Harrison, Chief Product Officer at AMINA Bank. “This offering provides a great addition to the products that help our clients thrive in the world of crypto.”
This milestone initiative underscores AMINA Bank’s proactive role in shaping the future of stablecoins. By enabling cost-effective and secure solutions for holding digital currencies, the bank is fostering trust and driving further adoption of stablecoins in the global financial ecosystem.
AMINA’s latest offering reaffirms its position as a leader in regulated crypto banking, blending innovation with stability to meet the evolving needs of clients worldwide.
