Swiss banking firm Seba has rebranded its name to Amina as part of its global expansion program. The new name translates to transamination or transferring from one compound to another. It represents various types of banking services offerings. The bank will start offering its services worldwide.
Seba Bank AG has now changed its name to Amina Bank AG. The bank noted that another reason for changing the bank name from Seba was to remove the confusion with SEB bank of Sweden.
Amina CEO, Franz Bergmueller, reported that SEB and SEBA bank made an agreement regarding a change of title in 2023. On this account, the bank further shared its mission to bring together various elements of traditional, virtual, and digital banking services. The new name is based on the idea of compounding various types of banking services.
On the other hand, Seba bank was derived from the founder of the firm namely Sebastian Merillat. The founder noted in a 2019 interview that he is passionate about the technology and intends to see how it works.
Amina Rapidly Expanding Crypto Services Across the Globe
Amina Bank is currently working on expanding its digital currency services across various nations in the world. In November 2023, Seba also acquired license from Hong Kong Securities and Futures Commission. The new license allowed the firm to offer crypto investing services in Hong Kong jurisdiction.
In 2022, Seba gained a permit to offer financial services in the Abu Dhabi Global Market and set up an office in the capital city. Amina’s CEO recently informed journalists that the firm has the ambitions to form strategic partnerships in Switzerland, Abu Dhabi, and Hong Kong in 2024.
The executive further noted that the bank will focus its attention on three regions namely Abu Dhabi, Switzerland, and APAC. In APAC, the main locations of interest were identified as Singapore and Hong Kong.
Amina has regulated hubs in Zug, Abu Dhabi, and Hong Kong. At the same time, the bank is also operational across the world offering traditional and digital asset banking services. The bank has noted that its existing clients will remain unaffected by the rebranding.
Amina Remains a Major Stakeholder in the Crypto Sector
Amina Bank has been operating since 2018 as a major contributor to the development of the cryptocurrency market. On this account, the firm will enable various financial institutions to access crypto trading services.
In November, one of the largest Swiss banks St. Galler Kantonalbank entered into a partnership with Seba bank to enable custodial and brokerage services for digital currencies. The CEO of Seba retained speaking to media that the firm is parting with its old name but will remain forever proud of its achievements as a group.
At the same time, the executive noted that the rebranding is directed to pave a new era of growth and strategy for the banking enterprise. At the same time, the statement also indicated that the firm intends to play a key role in digital asset banking sectors and define future of finance.
At the same time, the bank has confirmed that the rebranding will not impact its existing services. Seba started operating in Hong Kong in 2022 and gained API to operate as a regulated firm in the Special Administrative Region of China.