Swiss digital asset bank AMINA is collaborating with Wall Street firm Cantor to evaluate various options for entering the public markets. The company disclosed that no final decision has been made on a specific path, and its current focus is on introducing strategic growth capital to support business expansion.

The current focus remains on financing.

Sources familiar with the matter said AMINA had evaluated various listing options, including a merger with SPAC. Currently, the company prefers a reverse takeover of a digital asset treasury company, but discussions are ongoing.

However, an AMINA spokesperson stated that the company is not currently in formal negotiations with any SPACs or digital asset treasury companies, and is instead in contact with potential investors. The company believes that a rapid IPO is not its primary objective; the focus remains on finding more suitable capital support for future growth.

Cantor declined to comment.

Founded in 2018, it has expanded to multiple locations.

Founded in 2018, AMINA was formerly known as SEBA Bank and changed its name to AMINA in 2023. It is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and is one of the few regulated banks focusing solely on digital asset business.

Currently, AMINA offers crypto trading, custody, staking, and lending services to institutional and professional investors, and its business has expanded to Abu Dhabi, Hong Kong, and India.

The pace of IPOs among crypto companies is diverging.

Over the past year, the crypto industry has embraced the public markets again. IPOs of companies such as Circle, Bullish, Gemini Space Station, BitGo, and Figure have propelled the industry's IPO activity to its highest level since 2021.

However, their post-IPO performance has been inconsistent. As crypto asset prices weakened, trading activity slowed, and overall risk appetite declined, valuations of some companies came under pressure, prompting more unlisted companies to reassess their timing and structure for listing.

Several crypto companies, including Kraken's parent company Payward, Consensys, Ledger, and Grayscale, have postponed their IPO plans, awaiting an improvement in market conditions.

Additional information:As of the end of 2025, AMINA disclosed that its Tier 1 capital was 74.6 million Swiss francs, equivalent to approximately US$91 million; the company had raised a total of approximately US$245 million, with investors including Julius Baer, DeFi Technologies, and BlackRiver Asset Management.