Seba’s Name Change Raises Concerns Amidst Financial Struggles

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Seba, a Swiss cryptocurrency bank, has recently changed its name to Amina. However, this decision seems to have backfired as the new name has negative connotations in Turkish. The bank has not responded to questions regarding the name change. Seba-Amina has not lived up to its promise of being a catalyst for the future of finance. The bank gained attention for its expensive offices in Zug and high fees, with a CHF 25,000 annual fee for account opening. The departure of founder Guido Bühler in early 2022 has also raised concerns about the stability of the bank. Julius Bär, a Zurich private bank, has become an anchor investor in Amina and emphasized its commitment to the Crypto Valley. The name change, reminiscent of cases like the Mitsubishi “Pajero,” adds to the questions surrounding the bank’s performance. While the other licensed cryptocurrency bank in the country, Sygnum, appears to be making progress, Seba-Amina has remained silent.

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