Major Swiss cryptocurrency bank Seba is changing its name as it grows its ambitions to expand its trading services globally.

Seba Bank AG has changed its name to Amina Bank AG, the company announced to Cointelegraph on November 30. SEB Bank and SEBA Bank agreed to change their names in 2023. ” Amina CEO Franz Bergmueller told Cointelegraph.

The company said the new name, Amina, is derived from the word “transamination,” meaning the transfer of one compound to another, and refers to its mission to bring together various elements of traditional, digital, and crypto banking. .

While the new name is based on the idea of ​​mixing different types of banking, Amina’s previous name, Seba, was reportedly a play on the name of its founder, Sebastien Merillat. “I’m just passionate about technology and wanting to see how it works,” Merrillath explain In an interview in 2019.

related: SoFi Technologies will discontinue encryption services on December 19

Seba’s name change to Amina comes as the cryptocurrency bank is actively expanding its products globally. In early November 2023, Seba received a license from the Hong Kong Securities and Futures Commission, allowing the company to provide cryptocurrency trading services in the country. In 2022, Seba also obtained a financial services license from the Abu Dhabi Global Market and opened an office in Abu Dhabi.

“Looking ahead to 2024, we aim to accelerate the development of our strategic centers in Switzerland, Hong Kong and Abu Dhabi and continue our global expansion,” Amina CEO said. He added:

“Currently, we are focusing on three regions: Switzerland, Abu Dhabi and Asia Pacific, including Hong Kong and Singapore.”

In addition to regulated centers in Zug, Hong Kong and Abu Dhabi, Amina operates globally, offering traditional and crypto banking services to customers. Existing customers of Amina Bank (formerly Seba Bank) will not be affected by the rebranding as all operations will continue as usual, the company said.

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

Magazine: 5,050 Bitcoin in 2009: Helsinki claims cryptocurrency fame