Main Swiss cryptocurrency-enabled financial institution Seba is altering its identify amid rising ambitions to develop its buying and selling companies 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 identify from SEBA Financial institution attributable to 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 identify, Amina, stems from the time period “transamination,” which means the transference of 1 compound to a different, the agency mentioned — referring to its mission to carry collectively numerous parts of conventional, digital and crypto banking.
Whereas the brand new naming relies on the concept of compounding several types of banking, Amina’s earlier identify, Seba, is reportedly a play on the identify of its founder, Sebastien Merillat. “I’m simply obsessed with know-how and seeing the way it will work,” Merillat said in an interview in 2019.
Seba’s rebranding to Amina comes amid the crypto financial institution actively increasing its merchandise all over the world. In early November 2023, Seba obtained a license from the Hong Kong Securities and Futures Commission, which allowed the agency to supply crypto buying and selling companies within the nation. In 2022, Seba additionally obtained monetary companies permission from Abu Dhabi World Market and opened an office in Abu Dhabi.
“As we sit up for 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 enlargement,” Amina CEO mentioned, including:
“At the moment, we hold 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 shoppers conventional and crypto banking companies. Present shoppers of Amina Financial institution — previously Seba Financial institution — will probably be unaffected by the rebrand, as all operations will probably be enterprise as ordinary 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 companies. In November 2023, Switzerland’s St.Galler Kantonalbank, one of many largest banks within the nation, partnered with then-branded Seba to supply its shoppers digital asset custody and brokerage companies.