The Swiss financial institution, AMINA Bank, has eliminated custody charges for users holding USD Coin (USDC), providing quarterly incentives and safeguarding assets as a strategy to stimulate the use of stablecoins.
AMINA Bank, previously known as SEBA Bank, which is welcoming to cryptocurrencies, has waived custody fees for clients using their USD Coin (USDC) Stablecoin Rewards Account. This move aims to draw in more users of stablecoins. The updated offer is applicable to both hot and cold wallet storage options without any additional charges, as announced in a press release they shared with crypto.news.
The bank has revealed its intentions to incorporate Circle’s Euro-backed stablecoin, EURC, into their platform in the near future. Moreover, clients who currently hold USDC will be eligible for periodic rewards, which will be disbursed directly by the bank, as stated in the press release.
Amina Bank’s Chief Product Officer, Myles Harrison, states that this new offering significantly enhances their product lineup, empowering clients to prosper in the realm of cryptocurrencies.
AMINA Bank is reinforcing its dedication to promoting the expansion and usage of stablecoins by being among the initial regulated banks offering fee-free storage for USDC with rewards on all holdings, whether in hot or cold wallets.
Myles Harrison
According to numerous specialists, the year 2025 is anticipated to see significant growth in the usage of stablecoins, as they are expected to transition from being used primarily for trading purposes towards practical, day-to-day applications such as swift, on-the-spot transactions like instant payments.
In his January 1st post on X, Haseeb Qureshi (Dragonfly Capital’s managing partner) outlined several predictions for 2025, emphasizing a bright outlook for stablecoins. He posited that regulatory clarification could potentially lead to the introduction of bank-issued stablecoins in the United States by the end of the year.
Nevertheless, the managing partner at Dragonfly Capital expects minimal significant interruptions for well-established companies such as Tether, whom he feels will continue to maintain their leading position, particularly with Howard Lutnick in the role of Secretary of Commerce.
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2025-01-16 17:33