Seba Bank AG, a prominent Swiss bank specializing in cryptocurrency services, has announced a significant rebranding, changing its name to Amina Bank AG. This move, revealed to Cointelegraph on November 30, is part of the bank’s growing ambition to expand its trading services globally.
The decision to rebrand stems from a name similarity issue with SEB Bank in Sweden. According to Amina CEO Franz Bergmueller, an agreement was reached in 2023 between SEBA Bank and SEB Bank to change the former’s name. The new name, Amina, is inspired by the term “transamination,” which refers to the transfer of one compound to another. This concept aligns with the bank’s mission to integrate traditional, digital, and crypto banking elements.
Originally, the name Seba was a play on the name of its founder, Sebastien Merillat, who expressed his passion for technology and its potential in a 2019 interview. The rebranding to Amina marks a new chapter for the bank as it continues to expand its product offerings worldwide.
In early November 2023, the bank, then known as Seba, secured a license from the Hong Kong Securities and Futures Commission, enabling it to offer crypto trading services in Hong Kong. In 2022, the bank also received financial services permission from Abu Dhabi Global Market and established an office in Abu Dhabi.
Looking ahead to 2024, CEO Bergmueller outlined Amina’s ambition to accelerate growth in its strategic hubs in Switzerland, Hong Kong, and Abu Dhabi, while continuing to expand globally. The bank’s current focus is on three key regions: Switzerland, Abu Dhabi, and the Asia-Pacific region, including Hong Kong and Singapore.
Amina Bank operates worldwide, offering clients both traditional and crypto banking services from its regulated hubs in Zug, Hong Kong, and Abu Dhabi. The rebranding to Amina Bank will not affect current clients, as the bank assures that all operations will continue as usual.
Founded in 2018, Amina has become a significant player in the cryptocurrency ecosystem, enabling numerous financial institutions to provide crypto-related services. In November 2023, Switzerland’s St.Galler Kantonalbank, one of the country’s largest banks, partnered with the then-named Seba to offer digital asset custody and brokerage services to its clients.