Swiss digital asset bank AMINA has received a regulatory license from Austria’s Financial Market Authority (FMA) to operate cryptocurrency services across Europe under the Markets for Crypto Assets (MiCA) regulatory regime.
Austria’s approval paves the way for the launch of AMINA EU (the official entity authorized by the FMA is AMINA [Austria] AG), to offer cryptocurrency trading, custody, portfolio management and betting services to professional investors, including family offices, corporations and financial institutions, AMINA said.
AMINA (formerly known as SEBA Bank) holds a banking license from the Swiss Financial Market Supervisory Authority (FINMA), as well as crypto licenses in Hong Kong and Abu Dhabi. The cryptobank is positioned in the private client and accredited investor space, working with companies such as private bank Julius Baer and LGT Bank, a banking and asset management group owned by the princely family of Liechtenstein.
“We offer everything from bank accounts to cryptobank loans, all on a regulated basis,” said Franz Bergmueller, CEO of AMINA Bank, in an interview with CoinDesk. “We now also serve these digital asset treasury startups, and we started doing tokenization years ago – our gold token product is skyrocketing right now.”
“Positively surprised”
Austria was chosen as AMINA’s European entry point to the EU due to its regulatory excellence and strong commitment to investor protection, according to a press release. Austria is the European regulatory base for well-known crypto companies such as Bitpanda and Bybit, while Kucoin is known to be awaiting authorization there.
“We received a full banking license from FINMA in Switzerland, so I think we can make comparisons,” Bergmueller said of Austria as the chosen crypto base for MiCA. “I can tell you that the Vienna FMA has the highest standards you can imagine.”
The arrival of a unified regulatory framework for crypto companies across the European Union demonstrates the growing maturity of the digital asset market. That said, the launch of MiCA has not been without complications. Indeed, Austria’s FMA joined French and Italian financial regulators in calling for tighter EU control over MiCA in September.
“Three years ago, I was positively surprised that Europe was able to reach an agreement on cryptocurrencies,” Bergmueller said. “And I actually think they haven’t done a bad job of defining everything. Of course, it’s a very young industry and there will be new technological developments. It’s a constant development.”
