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Main Swiss cryptocurrency-enabled financial institution Seba is altering its title amid rising ambitions to increase its buying and selling providers worldwide.
Seba Financial institution AG has rebranded to Amina Financial institution AG, the agency introduced to Cointelegraph on Nov. 30. “We opted to vary our title from SEBA Financial institution resulting from similarities with SEB Financial institution in Sweden. SEB Financial institution and SEBA Financial institution agreed to a reputation change in 2023,” Amina CEO Franz Bergmueller informed Cointelegraph.
The brand new title, Amina, stems from the time period “transamination,” that means the transference of 1 compound to a different, the agency mentioned — referring to its mission to convey collectively varied components of conventional, digital and crypto banking.
Whereas the brand new naming is predicated on the thought of compounding various kinds of banking, Amina’s earlier title, Seba, is reportedly a play on the title of its founder, Sebastien Merillat. “I’m simply obsessed with know-how and seeing the way it will work,” Merillat mentioned in an interview in 2019.
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Seba’s rebranding to Amina comes amid the crypto financial institution actively increasing its merchandise around the globe. In early November 2023, Seba obtained a license from the Hong Kong Securities and Futures Fee, which allowed the agency to supply crypto buying and selling providers within the nation. In 2022, Seba additionally obtained monetary providers permission from Abu Dhabi World Market and opened an workplace in Abu Dhabi.
“As we look ahead to 2024, our ambition is to speed up the expansion of our strategic hubs in Switzerland, Hong Kong, and Abu Dhabi, and to proceed our world growth,” Amina CEO mentioned, including:
“Presently, we maintain our deal with three areas: Switzerland, Abu Dhabi and APAC, together with Hong Kong and Singapore.”
Aside from its regulated hubs in Zug, Hong Kong and Abu Dhabi, Amina operates globally, providing its purchasers conventional and crypto banking providers. Present purchasers of Amina Financial institution — previously Seba Financial institution — might be unaffected by the rebrand, as all operations might be enterprise as normal throughout the board, the agency mentioned.
Launched in 2018, Amina is a significant participant within the cryptocurrency ecosystem, enabling many monetary establishments to function crypto-related providers. In November 2023, Switzerland’s St.Galler Kantonalbank, one of many largest banks within the nation, partnered with then-branded Seba to supply its purchasers digital asset custody and brokerage providers.
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