Amina Bank Achieves Phenomenal $40M Revenue as Crypto AUM Soars
Amina Bank, the institution formerly known as SEBA Bank, has reported stellar financial results for 2024, signaling robust growth in the evolving landscape of crypto banking. For investors and industry watchers focused on digital assets, this performance underscores the increasing institutional adoption and maturation of the cryptocurrency market. Let’s dive into the details of this significant financial milestone.
Amina Bank’s Impressive Financial Performance
The Swiss crypto bank announced record-breaking figures for 2024. Revenue saw a substantial 69% increase year-over-year, reaching $40.4 million. This growth trajectory culminated in quarterly profitability in Q4 2024, a key achievement highlighted by CEO Franz Bergmueller.
Key financial highlights:
- Total Revenue: $40.4 million (up 69% YoY)
- Assets Under Management (AUM): $4.2 billion (up 136% YoY)
- Net New Assets Added in 2024: $801 million
- Derivatives Revenue Growth: 40%
- Liquidity Coverage Ratio: 228% (up from 219% in 2023)
- CET1 Capital Ratio: 34% (more than double regulatory requirement)
The bank attributes this performance to its strategic approach, including a multi-jurisdictional presence, 24/7 trading capabilities, and a lending book with zero defaults over five years.
Driving Forces Behind the Surge in Crypto AUM
A significant factor in Amina Bank’s success was the remarkable 136% increase in its crypto AUM, reaching $4.2 billion. This growth was primarily fueled by rising institutional demand for digital assets. As more traditional financial players and corporations explore exposure to cryptocurrencies, regulated entities like Amina Bank become preferred partners.
The addition of $801 million in net new assets during the year demonstrates the bank’s ability to attract significant capital. The 40% surge in derivatives revenue also points to increasing client interest in tools for managing risk associated with volatile digital asset markets.
Expanding Reach and Digital Assets Platform
Amina Bank’s international expansion efforts are yielding results. The bank noted strong revenue growth from its operations in Abu Dhabi (up 150% YoY) and Hong Kong (up 570% YoY). This global footprint is critical for serving a diverse client base interested in crypto banking services across different regulatory environments.
Looking ahead, the bank is investing in a proprietary digital platform set to launch later this year. This platform aims to serve B2C, B2B, and B2B2C clients with API-based infrastructure designed to handle increasing demand. The goal is to onboard 30 B2B2C partners by the end of 2025, up from nearly 20 currently.
The Strength of a Swiss Crypto Bank
Operating as a regulated Swiss crypto bank provides Amina Bank with a strong foundation of trust and compliance. Holding licenses from FINMA (Switzerland), FSRA (Abu Dhabi), and SFC (Hong Kong) positions the bank as a reliable gateway between traditional finance and the world of digital assets. The bank’s rebrand from SEBA Bank in December 2023 was intended to emphasize this integration.
Financial stability indicators like the high liquidity coverage ratio (228%) and CET1 capital ratio (34%) further reinforce the bank’s robust financial health, providing confidence to clients and partners engaging in crypto banking activities.
Conclusion: A Blueprint for Crypto Banking Success?
Amina Bank’s 2024 results paint a clear picture of a crypto banking institution achieving significant traction through strategic expansion, focus on institutional clients, and investment in technology. The doubling of crypto AUM and strong revenue growth highlight the increasing mainstream acceptance and demand for regulated access to digital assets. As Amina Bank continues to expand its international presence and roll out its new digital platform, its performance will serve as a key indicator for the broader growth trajectory of the crypto banking sector.
