Swiss crypto bank Seba rebrands to Amina amid global expansion

Seba, the major Swiss cryptocurrency-enabled bank, is changing its name amid growing ambitions to expand its trading services around the world.

Seba Bank AG has changed its name to Amina Bank AG, the company announced to Cointelegraph on November 30. “We chose to change our name from SEBA Bank due to the similarities with SEB Bank in Sweden. “SEB Bank and SEBA Bank have agreed to a name change in 2023,” Amina CEO Franz Bergmueller told Cointelegraph.

The new name, Amina, arises from the term "transamination," which means the transfer of one compound to another, the firm said, referring to its mission to bring together various elements of traditional, digital and crypto banking.

While the new name is based on the idea of ​​combining different types of banking, Amina's previous name, Seba, is apparently a play on the name of its founder, Sebastien Merillat. "I'm just passionate about technology and seeing how it will work," Merillat saying in an interview in 2019.

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Seba's rebranding to Amina comes amid the cryptobank's active expansion of its products around the world. In early November 2023, Seba obtained a license from the Hong Kong Securities and Futures Commission, allowing the company to offer crypto trading services in the country. In 2022, Seba also obtained financial services permit from Abu Dhabi Global Market and opened an office in Abu Dhabi.

"As we look to 2024, our ambition is to accelerate the growth of our strategic centers in Switzerland, Hong Kong and Abu Dhabi, and continue our global expansion," said the Amina CEO, adding:

"Currently, we maintain our focus on three regions: Switzerland, Abu Dhabi and APAC, including Hong Kong and Singapore."

In addition to its regulated centers in Zug, Hong Kong and Abu Dhabi, Amina operates globally and offers its clients traditional and crypto banking services. Existing customers of Amina Bank, formerly Seba Bank, will not be affected by the rebranding as all operations will continue as usual across the board, the firm said.

Launched in 2018, Amina is a major player in the cryptocurrency ecosystem, enabling many financial institutions to operate cryptocurrency-related services. In November 2023, Switzerland's St.Galler Kantonalbank, one of the country's largest banks, partnered with the then Seba brand offer its clients custody and brokerage services for digital assets.

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