The transition began at the company headquarters in Switzerland, with plans for an eventual change of name and transformation across other offices located in financial hubs like Abu Dhabi, Hong Kong, and Singapore.
The cryptocurrency bank, formerly known as Seba, is embarking on a major rebranding effort as it transitions to a new name – Amina Bank. The change comes following confusion with another bank in Sweden named SEB. The report stated that there was an agreement to adopt a fresh identity to stop whatever confusion the identical names may cause, especially since they have similar services.
The former name Seba is said to be a short form of its founder’s name, Sebastien Merillat, but the new one seeks to reflect the wide range of services that the company is offering. According to CEO Franz Bergmueller, the name Amina signifies the concept of “transAMINAtion”, representing how the bank combines traditional, digital, and crypto banking capabilities to unlock greater potential for clients. He framed the rebranding as part of a major transformation that goes beyond just altering the name. He stated:
“We are delighted to introduce the world to our new brand identity. While we say goodbye to the Seba name, we remain forever proud of the achievements made by the group under the former brand.”
The transition began at the company headquarters in Switzerland, with plans for an eventual change of name and transformation across other global offices located in financial hubs like Abu Dhabi, Hong Kong, and Singapore. Nevertheless, Bergmueller assured that day-to-day operations would continue undisrupted during the gradual process.
Amina (Former Seba) Sets Eyes on Expansion, a New Era of Growth
While proud of Amina’s progress to date, Bergmueller stressed that this represents a pivotal new chapter. Amina, backed by Swiss institution Julius Baer, was first launched in 2018 after securing the necessary licenses in Switzerland. It has made efforts to gain licenses beyond these regions, which is part of its more general goal of being licensed in various areas of the world. The bank secured permission to operate in Abu Dhabi last year, which allowed it to open an office there. This year, it got the license to operate in Hong Kong approved by the Securities and Futures Commission in the country.
The CEO also tied adopting ‘Amina’ to the bank’s vision for a “new era” of accelerated growth. Part of the plan for 2024 is to continue to expand its footprint across strategic regions while keeping the banking experience seamless for existing clients. He said:
“As we look forward to 2024, our ambition is to accelerate the growth of our strategic hubs in Switzerland, Hong Kong, and Abu Dhabi and to continue our global expansion.”
As a rising industry player in cryptocurrency, Amina will maintain services spanning traditional finances and digital banking on the global stage. Bergmueller noted that the hybrid model directly reflects their mission to navigate ongoing changes reshaping the financial landscape. Even amidst acquiring a new brand, the central focus remains fusing these banking spheres.