AMINA Bank has removed custody fees for its Stablecoin Rewards Account, allowing clients holding USDC to earn quarterly rewards without the burden of traditional banking fees.
The Switzerland-based crypto bank claims that the new offering enables individual and business clients to store their USDC holdings in hot and cold wallets, with flexible access and industry-leading security. AMINA also assures that the stablecoins held in these accounts will never be lent out or reinvested, guaranteeing that assets remain safe from counterparty risks.
AMINA’s Stablecoin Rewards Account is designed to deliver added value to crypto holders, offering the same benefits of fiat currency deposits but without the associated banking costs. The assets are kept in segregated wallets, off-balance-sheet, ensuring they are fully protected from the bank’s liabilities.
Myles Harrison, Chief Product Officer at AMINA Bank, said:
“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. This offering provides a great addition to the products that help our clients thrive in the world of crypto. We will soon expand this offering to include EURC, further enhancing the stablecoin ecosystem.”
AMINA’s new initiative signals a bold move toward strengthening the use and adoption of stablecoins and gaining a competitive edge in the rapidly evolving crypto landscape.
Notably, this isn’t the first time the bank has offered zero-fee services. Last year, the FINMA-regulated bank launched a fee-free custom banking package aimed at web3 startups and scale-ups. This package featured no monthly charges for accounts in Swiss Francs (CHF) and Euros (EUR), along with payment services across various currencies, notice and fixed-term deposit accounts, plus crypto custody, staking, and spot trading. At that time, Harrison stated that this initiative underscored the bank’s dedication to
“empowering the next generation of innovators in the Web3 space and the wider startup ecosystem.”
This move also builds on AMINA’s recent efforts to expand its operations. In September 2024, the bank revealed its intention to seek regulatory approval for providing services in Austria. If successful, this move will extend the bank’s global presence from three to four locations, adding to its existing bases in Switzerland, Abu Dhabi, and Hong Kong.
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