Crypto Bank

Bank

Planet

<div class="intro-text"> 
 Swiss crypto bank Amina is seeking approval for a Virtual Asset Service Provider (VASP) licence from the Austrian Financial Market Authority, according to CEO Franz Bergmüller. 
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In a recent <a style="color: #0000ff;" href="https://www.finews.com/news/english-news/64235-interview-franz-bergmueller-anima-kryptobranche-kryptowaehrungen-bitcoin-stablecoins-micar-sbf-finma-2">interview</a>, Bergmüller stated that the bank is looking to broaden its geographic reach by expanding into Europe. 
<blockquote>
 “Our goal is to become the leading bank for the entire crypto ecosystem, serving miners, foundations, and crypto funds,”
</blockquote> 
the CEO stated in the interview. 
The CEO emphasised the high demand for crypto-backed loans, adding that Amina has a waiting list of crypto startups seeking traditional bank accounts.&nbsp; 
<blockquote>
 “Our clients have often been in this asset class for over a decade,” he said. “They understand the market cycles and have endured multiple crypto winters, which gives them the necessary resilience.”
</blockquote> 
He also noted that Amina’s clients are “fully convinced” about the potential of cryptocurrencies, maintaining long-term investments despite significant price fluctuations.&nbsp; 
Bergmüller, however, noted that they need to form a new team before it can begin operations or generate revenue in Austria. “As a bank, we are approaching break-even but have deliberately decided that investments in growth take priority at the moment,” he stated 
Amina’s push for a licence in Austria comes as the appeal of cryptocurrency is increasing in Switzerland. Swiss banks have embraced cryptocurrencies, with Zurich Cantonal Bank (ZKB), Switzerland’s fourth-largest financial institution, becoming the latest to <a style="color: #0000ff;" href="https://defi-planet.com/2024/09/zurich-cantonal-bank-joins-sygnum-and-other-swiss-banks-enters-crypto-market-with-24-7-trading-services/#google_vignette">launch</a> crypto-focused services. Also, the Swiss branch of the Spanish banking giant BBVA recently <a href="https://defi-planet.com/2024/09/bbva-adds-usdc-to-its-digital-asset-services-in-switzerland-for-high-profile-clients/">added </a>USDC to its crypto services offering for institutional clients. 
These developments coincide with the<a href="https://defi-planet.com/2024/07/swiss-financial-regulator-issues-new-guidance-on-stablecoins/"> issuance</a> of new guidelines by Switzerland’s Financial Market Supervisory Authority (FINMA) to address risks associated with stablecoins for issuers and banks. The guidelines allow licensed banks to accept public deposits of the approved stablecoins and require stablecoin issuers to verify the identities of token holders and beneficial owners to mitigate risks.&nbsp; 
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The post <a href="https://defi-planet.com/2024/09/swiss-crypto-bank-amina-seeks-vasp-license-in-austria-to-expand-european-presence/">Swiss Crypto Bank Amina Seeks VASP License in Austria to Expand European Presence</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Swiss Crypto Bank Amina Seeks VASP License in Austria to Expand European Presence

DeFi Planet

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