Cryptocurrency bank Amina brings on board an experienced private banker to spearhead their growth in Asia.
In a significant move for the burgeoning crypto industry in Hong Kong, AMINA Bank, formerly known as Seba, has appointed Michael Benz as the head of its operations in Hong Kong and the Asia-Pacific region. This appointment comes at a time of significant regulatory developments in Hong Kong, with the government's Digital Asset Policy 2.0 initiative ongoing and the implementation of the Securities and Futures Commission's ASPIRe roadmap and the Hong Kong Monetary Authority's stablecoin licensing framework.
Benz, with over 30 years of experience in private banking and wealth management, brings a wealth of expertise to AMINA. He has held positions such as global head of private banking at Standard Chartered, CEO of Merrill Lynch Wealth Management Asia, and head of product and services at UBS Wealth Management APAC. His extensive network and understanding of client needs will aid AMINA in evolving its crypto products and capabilities.
The appointment of Benz follows AMINA's record 2024 performance, where revenue surged 69% to $40.4 million, making AMINA the fastest-growing crypto bank in Switzerland. AMINA plans to launch enhanced technology platforms in the second half of 2025, and the appointment of Benz is seen as a strategic move to strengthen its position as institutional crypto infrastructure.
Franz Bergmueller, CEO of AMINA, believes Michael Benz is the ideal leader for AMINA's expansion in Asia. Benz will report directly to Bergmueller and will be based in Hong Kong. The Hong Kong government's Digital Asset Policy 2.0 initiative, the Securities and Futures Commission's ASPIRe roadmap, and the Hong Kong Monetary Authority's stablecoin licensing framework are all relevant to AMINA's operations in Hong Kong.
The Hong Kong Monetary Authority's stablecoin licensing framework became effective on August 1, providing a regulatory framework for the issuance and operation of stablecoins in Hong Kong. This development is expected to boost the growth of the digital asset industry in Hong Kong, and AMINA's strategic partnerships in the region will play a crucial role in its success.
AMINA intends to establish new strategic partnerships in Hong Kong to strengthen its position as institutional crypto infrastructure. The bank's unique position in bridging traditional finance and digital assets, as highlighted by Michael Benz, makes it well-positioned to capitalise on these opportunities.
The departure of Amy Yu, Amina's chief executive officer APAC, in July to join SC Ventures, Standard Chartered's venture arm, as new venture lead, has left a gap in the leadership team. However, with the appointment of Michael Benz, AMINA is poised for continued growth and success in the Asia-Pacific region.
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