In a strategic move announced on November 30, Seba Bank AG, a major player in the cryptocurrency ecosystem since 2018, has rebranded itself as Amina Bank AG. The decision to change the name was driven by a desire to avoid confusion with SEB Bank in Sweden, with both institutions jointly agreeing to the name change in 2023.
Amina Bank AG derives its new identity from “transamination,” symbolizing the transference of compounds. This reflects the institution’s mission to integrate various elements of traditional, digital, and crypto banking, marking a shift from its previous nomenclature, Seba, which was reportedly based on the name of its founder, Sebastien Merillat.
The rebranding coincides with Amina’s active expansion of its global footprint. The crypto bank received a license from the Hong Kong Securities and Futures Commission in November 2023, facilitating the provision of crypto trading services in the region. This achievement follows the bank’s earlier success in obtaining financial services permission from Abu Dhabi Global Market in 2022, coupled with the establishment of an office in Abu Dhabi.
Amina Bank AG, headquartered in Zug, Switzerland, emphasizes its strategic focus on three regions: Switzerland, Abu Dhabi, and the Asia-Pacific region, including Hong Kong and Singapore. Franz Bergmueller, CEO of Amina, envisions accelerating growth in these strategic hubs in 2024, marking a pivotal phase in the institution’s global expansion.
The rebranding does not disrupt existing clients, and operations continue seamlessly across the board. Amina operates globally, offering traditional and crypto banking services, with a particular emphasis on its regulated hubs in Zug, Hong Kong, and Abu Dhabi. The bank remains a key player in the cryptocurrency ecosystem, facilitating financial institutions to operate crypto-related services.
As Amina Bank AG emerges from its former identity as Seba Bank AG, the rebranding signifies more than a change in name; it represents a strategic pivot towards a broader and more inclusive approach to banking services globally. Positioned at the forefront of crypto banking, Amina is poised to define and shape the evolving landscape of the financial industry on an international scale.