{"id":130160,"date":"2025-05-28T11:15:58","date_gmt":"2025-05-28T11:15:58","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130160"},"modified":"2025-05-28T11:15:58","modified_gmt":"2025-05-28T11:15:58","slug":"amina-bank-hits-40m-revenue-in-2024-as-crypto-aum-doubles","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130160","title":{"rendered":"Amina Bank hits $40M revenue in 2024 as crypto AUM doubles"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSwiss crypto bank Amina Bank, formerly Seba Bank, reported record financial results for 2024, with revenue climbing 69% year-over-year to $40.4 million.<br \/>\nThe bank also saw its assets under management (AUM) rise by 136% to $4.2 billion, driven by institutional demand and strategic expansion, according to a May 28 news release.<br \/>\nThe Zurich-based bank credited the growth to its multi-jurisdictional footprint, 24\/7 trading capabilities and a lending book that has maintained zero defaults over five years.<br \/>\n\u201cI\u2019m incredibly proud of our team\u2019s tenacity and focus, which led to quarterly profitability in Q4 2024, a pivotal milestone that confirms the value of our approach,\u201d CEO Franz Bergmueller said.<br \/>\nRelated: Bitcoin Suisse eyes UAE expansion with regulatory nod in Abu Dhabi<br \/>\nAmina adds $801 million in assets in 2024<br \/>\nDuring the year, Amina added $801 million in net new assets. Revenue from derivatives increased by 40%, reflecting increased interest from clients seeking crypto-based risk-management tools.<br \/>\nThe bank also said it invested in building a proprietary digital platform last year, aiming to serve business-to-consumer (B2C), business-to-business (B2B) and business-to-business-to-consumer (B2B2C) clients.<br \/>\nThe system, expected to launch later this year, will feature API-based infrastructure to handle increasing demand across markets.<br \/>\nMike Foy, chief financial officer at Amina Bank, said the bank\u2019s liquidity coverage ratio increased to 228% in 2024, up from 219% in 2023.<br \/>\n\u201cIn addition, our CET1 capital ratio, which compares a bank\u2019s capital against its risk-weighted assets, is more than double the regulatory requirement at 34%, despite an increase in risk-weighted assets as a result of our expansion,\u201d Foy added.<br \/>\nRelated: Crypto projects prepare to battle for privacy in Switzerland<br \/>\nAmina\u2019s international revenue grows<br \/>\nAmina also noted that its international revenue continues to increase, with income from its Abu Dhabi operations rising 150% year-over-year and Hong Kong posting 570% growth. The bank expects to onboard 30 B2B2C partners by the end of 2025, up from almost 20.<br \/>\nFounded in 2019, Amina holds licenses from the Swiss Financial Market Supervisory Authority (FINMA), Abu Dhabi\u2019s Financial Services Regulatory Authority (FSRA) and Hong Kong\u2019s Securities and Futures Commission (SFC).<br \/>\nAmina rebranded from SEBA Bank on Dec. 1, 2023, to highlight its shift toward integrating traditional finance with digital and crypto services.<br \/>\nIn November 2023, Switzerland\u2019s St. Galler Kantonalbank, one of the largest banks in the country,\u00a0partnered with then-branded Seba to offer its clients digital asset custody and brokerage services.<br \/>\nMagazine: Can Off the Grid survive Steam\u2019s crypto ban? Rage over Maplestory cheaters: Web3 Gamer<a href=\"https:\/\/cointelegraph.com\/news\/amina-bank-2024-crypto-revenue-aum-growth?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSwiss crypto bank Amina Bank, formerly Seba Bank, reported record financial results for 2024, with revenue climbing 69% year-over-year to $40.4 million. The bank also saw its assets&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130160"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130160"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130160\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130160"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}