Swiss crypto bank AMINA Bank has announced that it has added Paxos’ USDG stablecoin to its custody, trading, and rewards portfolio.
The move enabled AMINA Bank to become a member of the Global Dollar Network (GDN), a network of organisations focusing on advancing digital dollar adoption globally.
Joining the GDN supports the financial institution in connecting its professional and institutional client base to an ecosystem of regulated financial institutions, facilitating interoperability and deeper liquidity across digital dollar infrastructure. The network includes several global platforms such as Robinhood, Kraken, OKX, Galaxy, Anchorage, and Bullish.
Integrating USDG
As a US dollar-backed stablecoin, USDG is issued by Paxos Digital Singapore, an affiliate of Paxos. The company operates as a regulated blockchain infrastructure provider, having expanded experience in stablecoin issuance and operations. Paxos Digital Singapore is a Major Payments Institution (MPI) supervised by the Monetary Authority of Singapore (MAS).
The current initiative, as part of which AMINA Bank integrated USDG in its offering, underlines the scaling demand for regulated stablecoin access within traditional banking frameworks. The bank now supports multiple stablecoins, including USDT, USDC, EURC, and RLUSD, equipping its clients with diversified access to digital dollar and euro infrastructure. Additionally, USDG’s transparent reserve backing, mostly US government bonds held one-to-one against circulating supply, falls in line with AMINA Bank’s institutional-grade risk management standards that it implements.
Talking about the integration, Myles Harrison, Chief Product Officer of AMINA Bank, stated that USDG custody, trading, and rewards come as the latest expansion of the financial institution’s regulated stablecoin offering. The decision further solidifies AMINA’s position in the industry and provides digital dollar access to professional investors.
He added that the bank’s stablecoin rewards programme allows clients to earn up to 4% annual rewards on USDG holdings, showcasing AMINA’s commitment to offering value through compliant advancement. Also, by entering the GDN, the crypto bank can connect to the financial institutions, developing the rails for stablecoin adoption at scale.
According to the official press release, specific products and services may not be available to all clients based on legal and regulatory grounds.
