XRP News: Ripple Partners AMINA Bank To Expand Payments in Europe

Key Insights

• Ripple partnership with AMINA Bank comes as a major XRP news today.
• Bank will use Ripple Payments for real-time cross-border payments.
• AMINA Bank clients can make seamless payments using Ripple USD (RLUSD) stablecoin.
• XRP price jumped 1% as bulls hold above the $2 key support level.

In a major XRP news today, Ripple announced that AMINA Bank has become the first European bank to go live with Ripple Payments.

The crypto infrastructure giant will support near real-time cross-border payments for bank clients.

Traders respond immediately to the announcement to trigger a slight bounce in XRP price. Bulls are strongly holding price above $2.

Ripple Boosts Payments in Europe with AMINA Bank

Crypto payment infrastructure firm Ripple announced a landmark partnership with AMINA Bank AG, as per a press release on December 12.

This marks the first time a European bank will leverage its payments solution. The partnership helps in facilitating near real-time cross-border transactions for its clients.

It also bridges the gap between blockchain operations and traditional banking infrastructure.

The partnership will allow AMINA Bank’s clients to move funds seamlessly across borders, bypassing the friction and delays often associated with legacy payment systems.

Moreover, clients will benefit from faster, lower-cost transactions with enhanced reliability and transparency.

Myles Harrison, chief product officer at AMINA Bank said its clients require cross-border stablecoin transactions, which traditional banks still lack.

Harrison added that Ripple’s support will significantly the bank’s capability, reducing cross-border friction and helping crypto-native clients.

XRP News: Seamless Payments with Ripple USD (RLUSD) Stablecoin

The partnership is key for AMINA Bank to meet its commitments to expand core banking services for both crypto-native companies and traditional financial institutions.

Cassie Craddock, managing director of UK & Europe at Ripple, claimed the partnership with AMINA Bank enables the firm to serve as the on-ramp for digital asset innovators into traditional financial infrastructure.

AMINA Bank’s clients will get access to seamless payments using Ripple USD (RLUSD) and other stablecoins, with the ability to make payouts in multiple currencies.

The new partnership expands the existing relationship between Ripple and AMINA Bank. Earlier this year, AMINA Bank became the first bank globally to support RLUSD, offering custody and trading services for the stablecoin.

Ripple added that its payments solution represents over 90% of the daily FX markets, with over $95 billion in volume.

The payments solution is available in Australia, Brazil, Dubai, Mexico, Singapore, Switzerland, and the United States.

Price Action Amid the Major XRP News

XRP price jumped more than 1% in the past 24 hours, currently trading at $2.035. The 24-hour low and high were $1.99 and $2.05, respectively.

Trading volume has decreased by nearly 30% over the last 24 hours. This indicated a decline in interest among traders amid options expiry.

The derivatives market showed mixed sentiment selling in the last few hours, as per CoinGlass data. At the time of writing, the total XRP futures open interest climbed 0.40% in an hour.

The 24-hour XRP futures OI was down almost 1% at $3.69 billion. Notably, XRP futures OI on CME jumped by 1.79% and dropped by more than 1% on Binance.