Swiss crypto bank AMINA is working with Cantor to evaluate a path to public markets, with a reverse takeover of a digital asset treasury firm currently its preferred route.
Crypto Business News
AMINA Bank, a Swiss digital asset bank regulated by the Swiss Financial Market Supervisory Authority (FINMA), is working with Wall Street firm Cantor to evaluate routes to a public listing. The bank has not made a final decision on any structure, and no timeline has been announced.
Two sources with knowledge of the matter, speaking on condition of anonymity, said AMINA currently favors a reverse takeover of a digital asset treasury company. The bank considered a special purpose acquisition company (SPAC) merger at an earlier stage but has since moved away from that option.
Raising Capital Before Going Public
AMINA said its immediate focus is on securing strategic growth capital rather than reaching a stock exchange quickly. An AMINA spokesperson said in emailed comments that SPACs had approached the bank, but their priority was a fast listing rather than supporting business growth. "An initial public offering (IPO) could be a logical next step in the future," the spokesperson added. The bank confirmed it is not currently in active talks with any SPAC or digital asset treasury company.
AMINA was founded in 2018 under the name SEBA Bank and rebranded in 2023. It holds a full digital asset banking license from FINMA and serves institutional and professional clients. The bank offers crypto trading, custody, staking, and lending services. It operates across Switzerland and has expanded into Abu Dhabi, Hong Kong and India. At the end of 2025, AMINA reported 74.6 million Swiss francs ($91 million) in Tier 1 capital. It has raised roughly $245 million in total from investors including Julius Baer, DeFi Technologies and BlackRiver Asset Management. Cantor declined to comment.
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Crypto IPO Wave Produces Uneven Results
The past year has seen a wave of crypto companies go public. Circle Internet (CRCL), Bullish (BLSH), Gemini Space Station (GEMI), BitGo (BTGO), and Figure (FIGR) all completed listings in what has been the busiest stretch of crypto IPOs since 2021. Initial investor demand was strong across several of those offerings. Performance after listing has been mixed, however, with softer crypto prices and lower trading activity weighing on valuations.
That record has caused several other firms to delay their own plans. Kraken parent Payward, Ethereum application builder Consensys, hardware wallet maker Ledger, and asset manager Grayscale have all pushed back their listing timelines. AMINA is making its decisions against that same market backdrop.
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