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AMINA Bank Review 2024

Leading crypto bank offering crypto trading, digital asset management, custody services, and asset tokenization.

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Published 9 months ago 25m

AMINA Bank info

EXCHANGE INFO
Founded
Headquarters
Website
Target clients
Employees
Financials
Market cap
Daily volume trading
Revenue
Currencies
Fiat supported
Cryptocurrencies
FEES AND TRADING
Pricing Plans
Cryptocurrency Fees
Crypto services
Tokenization services
Offers Bitcoin ETF
Staking services
Interest on savings
Crypto Custody
Crypto Trading
Business services
Invoicing service
Payments Services
Cards
API
Insurance Coverage
Interest on savings
REGISTRATIONS
Crypto licenses VASP
Banking licenses (IBAN)
Money Transmitter or E-Money Licences

Explore AMINA Bank

Key Features

AMINA Bank (formerly known as SEBA) Overview

Founded as SEBA Bank AG in 2019, AMINA Bank emerged as one of the first FINMA-regulated institutions to bridge the gap between traditional banking and the world of digital assets. The bank is based in Zug, Switzerland, one of the most crypto-friendly cantons in Europe. As such, the bank quickly gained global recognition for offering comprehensive crypto banking services.  In 2023, SEBA Bank achieved significant milestones that contributed to its continued global expansion and leadership in the crypto banking space. A notable highlight was the acquisition of a license by SEBA Hong Kong from the Securities and Futures Commission (SFC). This enabled the bank to offer regulated services in both traditional securities and virtual assets. This marks SEBA’s first regulated presence in the APAC region. On the other hand, in Switzerland, AMINA partnered with St.Galler Kantonalbank, launching custody and trading services for Bitcoin and Ethereum. These strategic advancements, combined with recognition at the Annual WealthBriefing Swiss Awards, where AMINA was awarded “Digital Assets Solution,” underscore the bank’s mission to integrate traditional banking seamlessly. The year 2023 was just huge for SEBA Bank, expanding its regulated operations across Switzerland, Abu Dhabi, and Hong Kong. It was by the end of 2023 that the bank underwent a change, rebranding to AMINA Bank. Its mission is to revolutionize finance by breaking down the barriers between traditional banking and digital assets. The bank is working towards a financial platform where trading, investing, and storing digital currencies are integrated within traditional banking services. With its pace of growth and client-centric approach, AMINA is setting new standards for crypto banking, developing secure, sophisticated, and seamless financial experiences for all its users. And it does not plan to stop here. Over the next couple of years, AMINA aims to define the future of crypto finance.

Key Features

Mobile App & Online Banking

AMINA Bank offers secure and convenient online and mobile banking designed for professional clients with substantial assets. To qualify as a professional client, individuals must either:
  • possess assets of at least CHF 500,000 (excluding real estate and pension assets) and demonstrate financial expertise through relevant education or career experience,
  • or hold assets of CHF 2 million, excluding similar exemptions.
With AMINA’s online banking and mobile app, users can manage both traditional fiat and cryptocurrencies, placing them in full control of their finances. The platform allows clients to trade, store, and manage digital assets seamlessly, offering premium financial services on the go. Security is a top priority, and AMINA implements advanced privacy and security protocols to protect clients' funds and personal information.  Additionally, no minimum deposit is required to open an account, making it easy to get started. Clients need only a passport or government-issued ID, proof of address (for non-Swiss residents), and their tax identification number (TIN) to begin their banking journey with AMINA. AMINA’s mobile app is on both Android and iOS.

Crypto Trading on AMINA Bank

AMINA Bank provides an extensive range of cryptocurrency trading options, ensuring seamless access to digital asset markets 24/7. With advanced liquidity aggregation and competitive pricing, clients can trade major cryptocurrencies like Bitcoin, Ethereum, Solana, and Polkadot. List of all the cryptocurrencies that AMINA offers trading services for:
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Solana (SOL)
  • Tezos (XTZ)
  • Polygon (MATIC)
  • Polkadot (DOT)
  • Uniswap (UNI)
  • Aave (AAVE)
  • Litecoin (LTC)
  • Chainlink (LINK)
  • Stellar (XLM)
  • Avalanche (AVAX)
  • USD Coin (USDC)
  • PayPal USD (PYUSD)
  • Synthetix (SNX)
  • Yearn Finance (YFI)
  • Near Protocol (NEAR)
  • Ripple (XRP)
  • Cardano (ADA)
These include Desktop Online Banking, Mobile App (iOS and Android), AMINA Pro (a professional trading platform), and even direct access to the bank's trading desk. Another feature of AMINA Bank is its over-the-counter (OTC) derivatives trading for cryptocurrency options. As one of the few regulated banks offering European-style crypto options, AMINA provides clients with a secure, regulated environment for trading Bitcoin, Ethereum, and selected altcoins. This includes access to expert guidance on trade structuring, risk management, and regular derivatives market reports. AMINA also supports margin trading, offering strategies in yield, hedging, leveraging, and risk reversal, with settlement options in both U.S. dollars and cryptocurrency. For clients interested in diversifying their portfolios, AMINA Bank extends its services to securities trading, providing access to global markets in equities, bonds, and ETFs, all supported by the bank’s secure custody solutions.

Crypto Custody Solutions

AMINA Bank is one of the few crypto banks whose custody services are fully compliant with Swiss Federal Law, ensuring full protection from counterparty risk. You can safely store your assets while accessing other financial products such as loans and margin trading. Asset Segregation: Your crypto assets are fully segregated and protected under Swiss law. Secure Storage: Assets are stored using cutting-edge custody technology. Access to Financial Products: Utilize your stored assets for trading, derivatives, and loans without compromising security.

Hot Wallet

The AMINA Hot Wallet allows for quick access to your cryptocurrencies, perfect for day-to-day transactions and trading. Instant Management: Manage your wallet via AMINA Online Banking or the mobile app. Supported Cryptocurrencies: Trade Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and more. Secure Technology: Uses hardware security modules (HSM) and multi-party computation (MPC) for security. Multi-Authentication: Safeguards your assets with multi-factor authentication and a "six-eyes" approval system.

Cold Wallet

The AMINA Cold Wallet offers the highest level of security for long-term asset storage, using a fully isolated, "off-grid" system. Security: Completely disconnected from the internet, ensuring no external access. Physical and Biometric Controls: Multi-level security including biometric authentication and blocked radio signals. Full Asset Protection: Digital assets are stored separately from the bank's balance sheet, ensuring total protection. NFT Custody To spice it up even more, ANIMA is the first regulated bank to offer NFT custody, providing a secure platform to deposit, store, and transfer NFTs with confidence.

New Products and Services in 2024

AMINA Gold Token (SGT)

The AMINA Gold Token (SGT) offers a modern, cost-efficient way to invest in fine physical gold. Each token represents ownership of one gram of 100% fine gold securely stored in Switzerland. SGT eliminates traditional storage costs, making it a highly cost-effective option for investors. The token is fully backed by physical gold, even during market volatility, and is regulated by FINMA, ensuring the highest standards of security. SGT also reduces the environmental impact typically associated with gold storage and transfer. It offers a seamless experience for institutional market making, custody, and credit, all accessible via a digital wallet. As an ERC-20 token, it is traded on the Ethereum blockchain, making transactions fast and globally accessible. Backed by the LBMA Gold Price, the AMINA Gold Token offers a reliable, future-proof way of investing in gold in the digital age.

Web3 Startup Package

One product launched in 2024 is a specialized Banking Package for Web3 startups and scale-ups to foster innovation and growth within the emerging digital asset ecosystem. Designed for companies with less than five years of operation or under CHF 10 million in funding, this package offers an integrated financial ecosystem combining traditional banking services and cutting-edge crypto solutions. Fee-Free Accounts: No monthly or onboarding fees for CHF and EUR accounts, with USD and HKD support coming soon. Payment Services: Access to global currencies for seamless cross-border transactions. Crypto Services: Custody, staking, and spot trading for major cryptocurrencies like Bitcoin and Ethereum, all backed by AMINA’s secure infrastructure. No Financial Barriers: No minimum funding requirements, offering flexibility for growing startups.

AMINA Payments Network (APN)

Another service launched by AMINA in 2024 is the AMINA Payment Network (APN) – a service offering real-time, seamless payments between members. APN facilitates instant cross-border transactions in CHF, EUR, and USD, with more currencies to follow. This innovative service enhances financial efficiency for businesses and individuals alike, ensuring 24/7 transaction capabilities. APN is available to existing AMINA Bank clients with no membership or transaction fees during the introductory phase, further solidifying AMINA’s leadership in the digital assets space. Members must hold an AMINA current account to access the network.

Financial Performance and Growth in 2024

AMINA Bank is certainly one of the most valuable companies in the crypto banking sector. Throughout the years, the company has undergone massive changes, leading to its growth globally. Back in 2018, AMINA Bank started raising capital from investors to bring this company to the point that it is today. Ever since 2018, AMINA Bank has had 4 funding rounds, leading to over $245.48 million raised.

AMINA Bank General Information

Year Founded: 2018 Company Status: Private Employees: 172 Investors: 11 Website: www.aminagroup.com Chief Executive Officer: Franz Bergmüller Chief Compliance & Risk Officer: Markus Blattmann Chief Financial Officer: Michael Foy Chief Product Officer: Myles Harrison Chief Client Officer: Markus Menzl Market Capitalization: Undisclosed as it is a Privately-Owned company

AMINA Bank Funding Rounds

Series A: Concluded on 9/27/2018; raised $103 million. Corporate Minority: Concluded on 12/12/2018; amount raised undisclosed. Series B: Concluded on 12/22/2020; raised $22.4 million. Series C: Concluded on 1/12/2022; raised $119 million.

Conclusion

AMINA Bank has established itself as a leading player in the crypto banking sector by seamlessly integrating traditional banking services with digital assets. Since its rebranding from SEBA Bank in late 2023, AMINA has expanded its global footprint, with notable achievements such as launching regulated services in Hong Kong and partnering with St.Galler Kantonalbank. The bank’s comprehensive range of services includes crypto custody, spot and derivatives trading, and innovative financial products like the AMINA Gold Token.  By offering fee-free accounts, cutting-edge digital asset services, and a specialized Web3 Startup Package, AMINA continues to drive growth and innovation in the digital finance space. AMINA’s commitment to security and compliance, backed by FINMA regulation, ensures that clients benefit from a secure and trustworthy environment. With its advanced online and mobile banking platforms, the bank remains at the forefront of crypto banking, providing seamless and sophisticated financial experiences for all its users. AMINA showed us that, whatever the market conditions are, it is here to stay.