AMINA Swiss crypto bank explores public listing with Cantor
In brief
- AMINA explores multiple public market paths with Cantor, including reverse takeover of digital asset treasury company.
- Bank has raised $245 million from investors including Julius Baer and DeFi Technologies.
- Crypto IPO performance remains uneven amid weaker prices and trading activity.
Strategic growth over speed
An IPO may be on the cards, but AMINA's immediate concern is to raise strategic growth capital rather than pursue a quick stock market listing. AMINA is not currently in discussions with any SPACs or digital asset treasury companies, according to a spokesperson. The bank is instead in talks with potential investors to fund its expansion.
Founded in 2018 as SEBA Bank and rebranded as AMINA in 2023, the lender operates as one of a small number of regulated banks focused on digital assets. It offers crypto trading, custody, staking and lending services to institutional and professional investors. The bank has expanded into Abu Dhabi, Hong Kong and India. As of year-end 2025, AMINA reported 74.6 million francs ($91 million) in Tier 1 capital.
The bank has raised roughly $245 million from investors including Julius Baer, DeFi Technologies and BlackRiver Asset Management.
Uneven crypto IPO landscape
The timing of AMINA's exploration comes as the crypto industry has seen listings from companies including Circle Internet, Bullish, Gemini Space Station, BitGo and Figure. However, post-listing performance has been uneven as weaker crypto prices, slowing trading activity and a broader risk-off environment weighed on valuations.
Several major crypto firms have delayed IPO plans in response. Kraken parent Payward, Ethereum app builder Consensys, wallet provider Ledger and asset manager Grayscale have all pushed back their public market ambitions. For AMINA, the focus remains on building the balance sheet first—and letting the market window follow.
"We are not currently in discussions with any SPACs or DATs. We are in discussions with potential investors. As mentioned, the focus is on strategic growth capital. An IPO could be a logical next step in the future." — AMINA spokesperson
