AMINA Bank is making waves in the stablecoin market by removing custody fees for clients with a Stablecoin Rewards Account that holds USDC. This innovative move allows clients to grow their digital dollar holdings through attractive rewards while enjoying flexible access and robust security.
Located in Zug, Switzerland, AMINA has positioned itself as a leading crypto bank. As the popularity of stablecoins continues to rise, they have taken a significant step by eliminating custody fees for USDC stored in both hot and cold wallets. Plans are underway to include EURC soon as well.
With the Stablecoin Rewards Account, both individuals and businesses can reap the benefits of fee-free custody. Here’s what clients can expect.
Quarterly Rewards: Clients will receive rewards based on their USDC holdings, akin to traditional fiat benefits but without the banking fees.
Asset Security: Clients can rest assured knowing their stablecoins won’t be lent out, moved, or reinvested.
Protection Against Risk: All assets are safeguarded in segregated wallets and held off the balance sheet, keeping them independent from AMINA's liabilities and eliminating potential counterparty risks.
State-of-the-Art Custody Solutions: Clients will have access to secure, private asset vaults characteristic of Swiss banks, complemented by advanced custody technology.
This initiative marks a major milestone in AMINA Bank’s efforts to promote stablecoin adoption and deliver real value to customers around the globe. USDC and EURC are stablecoins pegged to the US dollar and euro, respectively, and are fully backed by reserves. They offer users stability and the ability to conduct faster, more cost-efficient transactions, enhancing liquidity in the crypto landscape. These stablecoins are increasingly utilized for digital payments and remittances and as safe stores of value, aligning perfectly with AMINA's mission to empower the crypto industry.
According to Myles Harrison, Chief Product Officer at AMINA Bank, “As one of the first regulated banks to offer fee-free custody of USDC with rewards, AMINA Bank is reinforcing its commitment to fostering the growth and adoption of stablecoins. This offering is a valuable addition to our suite of products designed to help clients thrive in the fast-evolving world of crypto. We’re excited to soon expand this service to include EURC, further enriching the stablecoin ecosystem.”
Eligible USDC holders can look forward to receiving quarterly rewards directly from AMINA Bank, making their investment even more rewarding.
