Swiss crypto bank AMINA, working with Cantor Fitzgerald, favors a reverse takeover over a SPAC as it seeks growth capital. The firm, overseen by FINMA, has raised $245M from investors including Julius Baer.
Alpha Score of 28 reflects poor overall profile with poor momentum, poor value, weak quality, moderate sentiment.
Cantor Fitzgerald is advising Swiss digital asset bank AMINA on a potential move to public markets, the bank confirmed.
AMINA, formerly known as SEBA Bank, has explored various listing routes including a SPAC merger. The current favored path is a reverse takeover of a digital asset treasury company, according to two people familiar with the talks, who asked not to be named because the discussions are private.
No final decision has been made, an AMINA spokesperson said. An IPO remains possible but the immediate goal is raising strategic growth capital, they added.
"SPACs and other vehicles have contacted us. Their primary focus is on a quick stock market listing rather than growth capital. In contrast, we are looking at options that will support AMINA's strategic growth," the spokesperson said in emailed comments. "We are not currently in discussions with any SPACs or DATs. We are in discussions with potential investors."
The bank is regulated by the Swiss Financial Market Supervisory Authority, FINMA, and offers crypto trading, custody, staking and lending to institutional and professional clients. It has expanded into Abu Dhabi, Hong Kong and India since its 2018 founding.
AMINA reported 74.6 million francs ($91 million) in Tier 1 capital at year-end 2025. It has raised roughly $245 million from investors including Julius Baer, DeFi Technologies and BlackRiver Asset Management.
The crypto sector has seen its strongest IPO wave since 2021, with listings from Circle Internet, CoinDesk's owner Bullish, Gemini Space Station, BitGo and Figure. But post-listing performance has been uneven as weaker crypto prices and slowing trading activity weigh on valuations. Kraken parent Payward, Ethereum app builder Consensys, wallet provider Ledger and asset manager Grayscale have all delayed their own IPO plans.
AMINA's CRCL stock page competitor Circle went public in January at an initial market cap around $4.5 billion but has since lost roughly a third of its value as the broader crypto market retreated.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.