Popular Swiss Bank Changes Its Name And Shifts Focus To Crypto

With a keen focus on crypto, a reputable Swiss bank known as Seba has recently undergone a substantial transformation and rebranded itself as Amina Bank AG. This change is driven by ambitious plans to expand upon pre-existing global trading services and is motivated by the bank needing to have a separate identity to the similarly named SEB Bank in Sweden.

Amina CEO Franz Bergmueller explained that both banks mutually agreed to change their names in 2023, leading to the establishment of Amina. The name Amina is derived via transamination, a term associated with the transfer of compounds between elements.

Going global

The aforementioned decision signifies the overall mission statement of the bank to unify various aspects of traditional, digital, and cryptocurrency banking. In contrast, the previous name was a reference to its founder, Sebastien Merillat, who expressed a passion for technology.

The bank also recently obtained a license by the Hong Kong Securities and Futures Commission, enabling it to provide cryptocurrency trading services in the region. In 2022, it acquired financial services permission by the Abu Dhabi Global Market and established an office in Abu Dhabi.

Amina CEO Franz Bergmueller outlined their vision for 2024, emphasizing accelerated growth in key strategic locations such as Switzerland, Hong Kong, and Abu Dhabi, with a continued focus on Switzerland, Abu Dhabi, and the Asia-Pacific region, including Hong Kong and Singapore.

Services will not be interrupted

Despite the name change, existing clients of Amina Bank, formerly Seba Bank, can anticipate uninterrupted service, as the transition will not impact ongoing operations. Amina operates globally, offering clients both traditional and cryptocurrency banking services.

Launched in 2018, Amina plays a significant role in the cryptocurrency ecosystem, facilitating different kinds of provisions pertaining to crypto-related services. In November 2023, St.Galler Kantonalbank, one of the largest banks in Switzerland, collaborated with the institution, then operating under the Seba brand, to provide digital asset custody and brokerage services to its clients.