AMINA Bank
Swiss-licensed bank for crypto custody, trading, and lending to institutions and wealthy clients.
On the record
Checkpoint: MiCAR CASP transition period expires, testing AMINA's EU operational footprint
The call
AMINA holds real licenses that rivals lack, but sits behind Sygnum in scale and now faces Swiss banking giants entering its own niche.
AMINA Bank is a Swiss bank that helps other banks and financial companies trade and hold cryptocurrencies. It has real banking permits from Swiss and international regulators, and it works with over 20 partner banks. The problem is that Sygnum Bank does almost the same thing but is bigger and has more investor money, and now traditional Swiss banks like UBS and PostFinance are jumping into crypto too, using licenses they already had. The key question is whether AMINA can make real profits, keep its bank partners from switching to competitors, and turn its cloud technology into something only it can do well, or whether it stays a copyable middleman that others can replace.
Why
01
AI pressure: None apparent. No AI lab or agent targets crypto custody and settlement banking directly yet, though AI-run trading bots could commoditize its trading revenue. Could AI do the core job? Unlikely.
02
Bigger players: UBS, Julius Baer, PostFinance, and Swissquote. These already-licensed Swiss banks are adding crypto custody and trading services, using existing client bases AMINA had to build from scratch. Could a giant copy it? Probably.
03
What protects it. FINMA banking and securities license plus MiCAR CASP, Hong Kong SFC, and ADGM approvals that new entrants cannot get quickly.
What would change this call
AMINA reports sustained full-year profit for 2026, not just a quarterly one. shows the bank can hold profitability beyond a single strong quarter.
AMINA announces a new funding round or discloses self-funding status. shows whether investors still back growth after no round since 2022.
AMINA's partner-bank count overtakes or falls further behind Sygnum's 25+. shows whether AMINA is closing or losing the scale gap to its main peer.
AMINA announces a new funding round or discloses self-funding status. shows whether investors still back growth after no round since 2022.
AMINA's partner-bank count overtakes or falls further behind Sygnum's 25+. shows whether AMINA is closing or losing the scale gap to its main peer.
Key numbers
- FY2024 revenue rose 69% to $40.4 million
- FY2024 assets under management grew 136% to $4.2 billion
- Neither AMINA nor Sygnum profitable for full-year 2025
Named risks
- No full-year profit reported through FY2025 despite Q4 2024 quarterly profitability.
- Roughly half of revenue tied to volatile crypto trading activity.
- No new funding round since 2022 Series C, limiting capital versus unicorn-valued Sygnum.
- Sygnum's larger scale and capital could pull B2B partner banks away from AMINA.
- Board Chair departure ahead of AGM 2026 creates governance transition uncertainty.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Sygnum Bank AG | losing to | 25+ partner banks and >$1B unicorn valuation vs AMINA's 20+ partners, as of Jul 2026 |
| UBS/Julius Baer/PostFinance/Swissquote | contesting | Traditional Swiss banks building in-house crypto services, per Aug 2025 industry report |
| Bitcoin Suisse | contesting | Zug-based Swiss crypto financial services competitor since 2013 |
| Anchorage Digital | contesting | US-based regulated digital-asset custody rival for institutional clients |
Questions people ask
- Is AMINA Bank profitable in 2026?
- Not on a full-year basis. AMINA reached quarterly profitability in Q4 2024, but a July 7, 2026 finews comparison of both banks' 2025 annual reports found neither AMINA nor peer Sygnum was in the black for the full 2025 fiscal year.
- Who is AMINA Bank's biggest competitor?
- Sygnum Bank AG, an identical FINMA-licensed Swiss crypto bank. As of July 2026, Sygnum has 25+ partner banks versus AMINA's 20+, and Sygnum reached a unicorn valuation above $1 billion after a January 2025 growth round.
- Could AI replace AMINA Bank?
- No. AMINA's core value is its FINMA banking and securities licence plus regulated custody infrastructure, which AI cannot replicate. In a June 22, 2026 industry roundtable, AMINA's CFO described AI as a compliance tool the bank is deploying, not a substitute for its licensed banking business.
- Who owns AMINA Bank?
- AMINA Bank is privately held. Toronto-listed DeFi Technologies Inc. (Nasdaq: DEFT) holds a 5.07% equity stake after investing $27.35 million in AMINA's Series C round in January 2022, per a June 16, 2025 disclosure.
- What is AMINA Bank's revenue?
- AMINA Bank reported FY2024 revenue of $40.4 million, up 69% year-on-year, with assets under management growing 136% to $4.2 billion, according to a May 27, 2025 company announcement.
- Has AMINA Bank raised new funding recently?
- No new funding round has been reported since AMINA's January 2022 Series C, in which DeFi Technologies invested $27.35 million. As of the July 2026 finews comparison, the bank remains self-funded through quarterly earnings rather than a fresh capital raise.
Timeline
- 2026-07-16AMINA becomes first regulated bank to integrate Mesh crypto payments network, connecting 300+ wallets/exchanges
- 2026-07-07finews report: neither AMINA nor Sygnum posted full-year profit in FY2025 annual reports
- 2026-06-30AMINA Austria's MiCAR CASP licence becomes fully operational as transition period expires
- 2026-06-22AMINA CFO discusses AI-driven compliance and shift to fully digital bank at Duane Morris roundtable
- 2026-04-13AMINA, Crypto Finance, and Incore Bank complete production validation on Google Cloud Universal Ledger
- 2026-04-02Board Chair Paivi Rekonen announces she will not seek re-election at AGM 2026
- 2025-10AMINA Austria receives MiCAR CASP licence; Hong Kong Type 1 licence uplifted for digital-asset dealing
- 2025-08-13AMINA hires Michael Benz as CEO APAC to lead regional expansion
- 2025-05-27AMINA reports FY2024 revenue up 69% to $40.4 million, AUM up 136% to $4.2 billion
- 2023-12-01SEBA Bank rebrands to AMINA Bank
Revision history
21 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- DeFi Technologies Venture Portfolio Company AMINA Bank Delivers Record Growth in 2024 (2025-06-16)
- SEBA Bank rebrands to AMINA Bank (2023-12-01)
- AMINA Bank Emerges as Switzerland's Fastest-Growing Crypto Bank with 69% Revenue Surge (2025-05-27)
- Who Weathered the Stress Year Better? (2026-07-07)
- St. Galler KantonalBank Partners with Amina Bank (2024-11-04)
- AMINA Becomes the First Regulated Bank to Integrate Leading Crypto Payments Network, Mesh (2026-07-16)
- AMINA becomes first regulated bank to integrate Mesh (2026-07-16)
- Crypto Finance, AMINA, Incore settle live digital asset trades on Google Cloud DLT (2026-04-13)
- AMINA Bank announces Board of Directors change ahead of AGM 2026 (2026-04-02)
- Swiss Banks Aim to Plug Crypto Payments Gap Left by US Collapses (2024-07-30)
- Where is AMINA Bank Located? HQ, Global Offices & Company Insights (2024-01-29)
- Bankers' Crypto Roundtable... AMINA Bank CFO Discussion on AI-Driven Compliance (2026-06-22)