Cantor Advises AMINA on Potential Public Listing Path for Crypto Bank

Swiss crypto bank AMINA is engaging with Cantor Fitzgerald to explore opportunities for a public listing. Among the paths considered are a merger with a special purpose acquisition company (SPAC) and a reverse takeover of a digital asset treasury company. Although discussions are continuing, no definitive decisions have been reached as of now.

As the crypto market evolves, several private firms are revisiting their plans to enter public markets amidst fluctuating economic conditions. The spokesperson for AMINA highlighted the bank's focus on obtaining strategic growth capital before proceeding with an initial public offering (IPO), stating, “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.”

Founded in 2018 and formerly known as SEBA Bank, AMINA has established itself as one of the few regulated banks catered specifically to digital assets. With a broad range of services including crypto trading, custody, stake, and lending designed for institutional and professional investors, the bank has expanded its reach into markets such as Abu Dhabi, Hong Kong, and India.

The current environment for crypto IPOs remains challenging. After some high-profile public listings in the past year, including firms like Circle Internet and Gemini Space Station, the performance has been notably inconsistent. Weak crypto prices and a broader aversion to risk have led many companies to halt or reconsider their plans for going public. Notably, several major players, including Kraken and Consensys, have delayed IPO ambitions amid ongoing market volatility.

As of late 2025, AMINA reported Tier 1 capital of 74.6 million Swiss francs (approximately $91 million) and has attracted around $245 million from investors such as Julius Baer and BlackRiver Asset Management. The path to potential public market entry reflects a growing trend among crypto firms reassessing their strategies in response to current market dynamics.