Founded back in 2018 and now operating in its various businesses in Switzerland, Hong Kong and Abu Dhabi, AMINA Bank is a prominent player in the cryptos/digital assets space. Hong Kong's recent move to form a stablecoin framework was cited by the firm as an important step.

Switzerland-headquartered AMINA Bank, which focuses on the cryptocurrency space, has appointed former Standard Chartered, Merrill Lynch and UBS figure Michael Benz as its head for the Hong Kong and wider Asia-Pacific business region. Benz will report to CEO Franz Bergmueller.

Benz has worked in senior positions for more than three decades, including global head of private banking at Standard Chartered, CEO of Merrill Lynch Wealth Management Asia, and head of product and services UBS Wealth Management in APAC. 

“The appointment, following AMINA's record 2024 performance, positions AMINA to capitalise on Hong Kong's evolving regulatory framework and accelerating institutional adoption across the region,” the bank said. 

“His [Benz’s] exceptional network and deep understanding of client needs will allow us to continue evolving our crypto products and capabilities. Michael's leadership ensures that we can deliver the comprehensive, regulated crypto services that our sophisticated clients demand in the region,” Bergmueller said. 

In 2024, AMINA – renamed from SEBA Bank in 2023 – clocked up 69 per cent revenue growth reaching $40.4 million, which it said made it Switzerland’s fastest-growing crypto bank.

Hong Kong is seeking to push its credentials as a hot centre for digital assets/cryptocurrencies. The Hong Kong Monetary Authority has created a stablecoin licencing framework, which came into force from 1 August. The government in the city has a Digital Asset Policy 2.0 initiative, which AMINA said creates “unprecedented opportunities for institutional-grade crypto banking services.”

"My two decades in Asia have shown me that Hong Kong uniquely prioritises practical business adoption in a regulated environment, and crypto technology is no exception,” Benz said. “This creates an extraordinary opportunity for institutions, corporates, and professional investors exploring this new asset class.”

AMINA said it will develop “new strategic partnerships in Hong Kong” and launch “enhanced technology platforms” in the second half of 2025.

The bank was founded in June 2018, and established in Zug, Switzerland; its Swiss, Abu Dhabi and Hong Kong entities have received a range of regulatory licences. In 2023, AMINA won the European WealthBriefing Award in the Digital Assets Solution, Fund Manager category.