Switzerland's prominent cryptocurrency bank, formerly known as Seba Bank AG, has undergone a rebranding and is now operating under the name Amina Bank AG, announced on November 30. According to Amina CEO Franz Bergmueller, the decision to change the bank's name from Seba to Amina was part of an agreement initiated in 2023 between SEB Bank and SEBA Bank.
The chosen name, Amina, draws its inspiration from the term "transamination," symbolizing the transfer of compounds between entities. Amina aims to unify elements from traditional banking, digital finance, and the crypto sector under its global trading services. Previously, Seba's name was reportedly a play on the founder's name, Sebastien Merillat, reflecting his enthusiasm for technology. However, this rebranding marks Amina's strategic shift toward broader expansion and product enhancement in the global financial market.
The cryptocurrency bank has made significant strides in expanding its services worldwide. In 2023, Amina secured a license from Hong Kong’s Securities and Futures Commission, permitting it to offer cryptocurrency trading services in the region. Additionally, in 2022, Amina obtained a financial services license from the Abu Dhabi Global Market and established an office in Abu Dhabi. Looking ahead to 2024, Amina aims to strengthen its pivotal centers in Switzerland, Hong Kong, and Abu Dhabi while continuing its expansion across Switzerland, Abu Dhabi, and the Asia Pacific region, encompassing Hong Kong and Singapore.
While the rebranding from Seba to Amina signifies a global growth strategy, the company assures its existing clientele that all ongoing operations and services will continue without disruption. Operating since 2018, Amina remains a significant entity within the cryptocurrency ecosystem, offering a range of financial services to institutions involved in crypto-related operations. Notably, St.Galler Kantonalbank, one of Switzerland’s major banks, partnered with the institution, then known as Seba, in November 2023 to provide digital asset custody and brokerage services to its clientele.
