Swiss cryptocurrency-focused bank Seba has undergone a significant transformation, rebranding itself as Amina Bank AG.
This shift reflects the institution’s ambitious plans to expand its global trading services.
The decision to change its name was motivated by the need to distinguish itself from SEB Bank in Sweden.
Amina CEO Franz Bergmueller explained that both SEB Bank and SEBA Bank had mutually agreed to alter their names in 2023, leading to the birth of Amina.
The name “Amina” derives from “transamination,” a term associated with the transfer of compounds between elements.
This choice signifies Amina’s mission to unite various facets of traditional, digital, and cryptocurrency banking.
In contrast, Seba’s previous name was a nod to its founder, Sebastien Merillat, who has expressed his passion for technology.
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Amina’s rebranding coincides with its aggressive global expansion efforts.
The bank recently secured a license from the Hong Kong Securities and Futures Commission, enabling it to offer cryptocurrency trading services in the region.
In 2022, it obtained financial services permission from the Abu Dhabi Global Market and established an office in Abu Dhabi.
Amina’s CEO outlined their vision for 2024, emphasizing the acceleration of growth in key strategic locations like Switzerland, Hong Kong, and Abu Dhabi, with a continued focus on Switzerland, Abu Dhabi, and the Asia-Pacific region, including Hong Kong and Singapore.
Despite the name change, existing clients of Amina Bank, formerly known as Seba Bank, can expect uninterrupted service as the transition will not affect ongoing operations.
Amina operates globally and provides clients with both traditional and cryptocurrency banking services.
Launched in 2018, Amina plays a significant role in the cryptocurrency ecosystem, facilitating the provision of crypto-related services by financial institutions.
In November 2023, Switzerland’s St.Galler Kantonalbank, one of the country’s largest banks, partnered with the institution, then operating under the Seba brand, to offer digital asset custody and brokerage services to its clients.
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