Swiss crypto bank Seba has switched to the Amina brand amid global expansion

Major Swiss cryptocurrency-enabled bank Seba is changing its name amid growing interest in expanding its business services globally.

Seba Bank AG became Amina Bank AG. The firm announced to Cointelegraph on November 30. “We chose to change our name from SEBA Bank because of its similarity to SEB Bank in Sweden. SEB Bank and SEBA Bank have agreed to a name change in 2023, Amina CEO Franz Bergmüller told Cointelegraph.

The new name Amina comes from the word “transmine”, which means to transfer one premises to another, the company – referring to its mission of bringing together the various traditional, digital and crypto banking departments.

While the new name is based on the idea of ​​merging different types of banks, Amina's previous name, Seventy, is said to be a play on its founder, Sébastien Merillat. Merillat in 2010 “I'm very excited about technology and seeing how it works,” he said in a 2019 interview.

Related: SoFi Technologies to End Crypto Services Until December 19

Seba's name change to Amina comes amid an aggressive expansion of the crypto bank's products globally. In the year In early November 2023, Seba received a license from the Hong Kong Securities and Futures Commission, allowing the company to offer crypto trading services in the country. In the year In 2022, Seba obtained a financial services license from the Abu Dhabi Global Market and opened an office in Abu Dhabi.

“As we look forward to 2024, our aim is to accelerate the growth of our strategic hubs in Switzerland, Hong Kong and Abu Dhabi and continue our international expansion,” said Amina CEO.

“We currently focus on three regions: Switzerland, Abu Dhabi and APAC, including Hong Kong and Singapore.”

Apart from its controlled centers in Zug, Hong Kong and Abu Dhabi, Amina operates globally, offering traditional and crypto banking services to its clients. Existing customers of Amina Bank – formerly Seba Bank – will not be affected by the rebrand as all operations will be business as usual across the board, the firm said.

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

Magazine: 5,050 Bitcoins in 2009 at $5: Helsinki's Crypto Claim