- Seba Bank is now called Amina Bank as the crypto-focused Swiss bank moves toward expansion.
- Amina, the firm said, is derived from the word transamination, highlighting the blending of fiat and crypto.
New Name for Wider Reach
Seba Bank, the Switzerland-based crypto-focused bank, is now called Amina Bank. The move comes as the next step for the firm’s plans for global expansion and has an interesting backstory. Amina, the firm said, is derived from the word ‘transamination,’ which means the transference of one compound to another.
“Amina brings together the various ‘compounds’ of traditional, digital, and crypto banking to unlock new potential and growth for our clients,” the bank said in its press release earlier this month. With the new name, Amina aims to distinguish itself from a Swedish bank called SEB Bank, whose near-namesake has been confusing clients of both institutions.
Amina Bank is now shifting gears with plans to reach a wider clientele across the globe with a focus on Switzerland, Abu Dhabi, and APAC. For the time being, however, only the Swiss entity will carry the new brand. Entities in Abu Dhabi, Hong Kong, and Singapore will keep the Seba name but will likely adopt the new brand in early 2024.
Accelerating Growth in 2024
“As we look forward to 2024, our ambition is to accelerate the growth of our strategic hubs in Switzerland, Hong Kong, and Abu Dhabi, and to continue our global expansion,” Amina CEO Franz Bergmueller said.
In 2019, Amina Bank, then carrying its original name Seba Bank, received a license from the Swiss regulator FINMA to provide regulated banking services, including the dealing in crypto assets such as Bitcoin and Ethereum.