Swiss crypto powerhouse Amina Bank has reported a banner year for 2024, showcasing a staggering 69% surge in revenue to hit $40.4 million. This milestone marks a pivotal moment in the bank’s trajectory, underscoring its strategic expansion and the surging institutional appetite for digital assets.
A Year of Triumph and Expansion
Amina Bank, nestled in the heart of Zurich, isn’t just basking in the glow of robust financial results. The bank’s assets under management (AUM) soared by 136%, reaching a hefty $4.2 billion. According to a press release dated May 28, this impressive growth is attributed to the bank’s multi-jurisdictional reach and around-the-clock trading capabilities. Their lending book, notably, has maintained an unblemished record of zero defaults over the past five years—a testament to the bank’s rigorous risk management.
Franz Bergmueller, Amina’s CEO, couldn’t hide his satisfaction, stating, “I’m incredibly proud of our team’s tenacity and focus, which led to quarterly profitability in Q4 2024, a pivotal milestone that confirms the value of our approach.” His words resonate deeply with the bank’s strategic vision and execution. This follows a pattern of institutional adoption, which we detailed in our analysis of Morgan Stanley’s crypto trading plans.
Driving Forces Behind Amina’s Success
Here’s the catch: It’s not just about the numbers. Amina’s journey in 2024 was marked by the addition of $801 million in net new assets. The bank also reported a 40% spike in revenue from derivatives, highlighting a growing trend among clients who are keen on crypto-based risk management tools.
The bank’s Chief Financial Officer, Mike Foy, provided further insights, revealing that Amina’s liquidity coverage ratio climbed to 228% in 2024, up from 219% the previous year. “In addition, our CET1 capital ratio, which compares a bank’s 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,” Foy noted. These figures underscore the bank’s robust financial health and strategic foresight. As explored in our recent coverage of Kraken’s revenue growth, the crypto market continues to offer lucrative opportunities for institutions.
Amina also invested heavily in a proprietary digital platform last year, aiming to serve a diverse clientele spanning B2C, B2B, and B2B2C. This system, set to launch later in 2025, promises to revolutionize how the bank handles increasing market demands through API-based infrastructure.
Global Ambitions and Future Prospects
Amina’s ambitions are not confined to Swiss borders. The bank’s international revenue has seen remarkable growth, with income from its Abu Dhabi operations skyrocketing by 150% year-over-year, and Hong Kong operations posting a jaw-dropping 570% growth. By year-end 2025, Amina plans to onboard 30 B2B2C partners, a notable increase from nearly 20 currently.
Having rebranded from Seba Bank on December 1, 2023, Amina underscores its commitment to blending traditional finance with cutting-edge digital and crypto services. It holds licenses from the Swiss Financial Market Supervisory Authority (FINMA), Abu Dhabi’s Financial Services Regulatory Authority (FSRA), and Hong Kong’s Securities and Futures Commission (SFC), positioning it as a formidable player in the global financial landscape.
Yet, as Amina Bank continues its upward trajectory, questions linger about sustainability. Can the bank maintain its momentum in an ever-volatile crypto market? How will emerging regulatory frameworks shape its operations?
The narrative of Amina Bank is one of relentless pursuit and strategic foresight. As 2025 unfolds, the crypto world will be watching closely—eager to see how this Swiss titan navigates the uncharted waters of digital finance.
Source
This article is based on: Amina Bank hits $40M revenue in 2024 as crypto AUM doubles
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
