Cantor is advising crypto bank AMINA on path to potential public listing
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Swiss crypto bank AMINA is working with Wall Street advisory firm Cantor to explore options for a potential public listing. The bank has considered several routes to enter the public markets, including a special purpose acquisition company (SPAC) merger. According to two anonymous sources familiar with the matter, AMINA reportedly favors a reverse takeover of a digital asset treasury (DAT) company as a listing strategy. However, AMINA has officially denied that a reverse takeover of a DAT is being considered and emphasized that no final decision has been made on the path forward.
The bank’s current priority, according to a company spokesperson, is to raise strategic growth capital rather than pursue a rapid public listing. While SPACs and other vehicles have approached AMINA, the firm says their offers have focused mainly on quick stock market listings, which is not aligned with AMINA’s focus on supporting strategic growth. The company also clarified it is not currently in discussions with any SPACs or DATs, though an initial public offering (IPO) remains a possible future step.
Founded in 2018 as SEBA Bank and rebranded as AMINA in 2023, the Swiss-regulated digital asset bank offers crypto trading, custody, staking, and lending services to institutional and professional investors. AMINA has expanded internationally to markets including Abu Dhabi, Hong Kong, and India. As of the end of 2025, AMINA reported 74.6 million Swiss francs (around $91 million) in Tier 1 capital and has raised approximately $245 million from investors such as Julius Baer, DeFi Technologies, and BlackRiver Asset Management.
AMINA’s exploration of going public comes amid a wave of crypto companies considering IPOs after a period of market volatility. Several other crypto firms have recently listed publicly or postponed plans, reflecting uneven post-listing performance and broader risk-off conditions affecting valuations. This environment has led private companies like Kraken, Consensys, Ledger, and Grayscale to delay IPOs while waiting for more favorable market conditions. The report highlights the ongoing challenges and shifting strategic priorities among crypto firms navigating public market opportunities.