Cryptocurrency bank, Amina, taps experienced private banking professional for Asia's growth initiative

Amina Bank Appoints Michael Benz as APAC and Hong Kong Regional Head

Amina Bank, the FINMA-regulated cryptocurrency bank based in Switzerland, has announced a significant leadership change. Jun Luo will take over as the head of Amina Bank in the APAC region and Hong Kong, effective from the end of July, following the departure of Amy Yu.

The appointment of Michael Benz, a seasoned executive with over 30 years of experience in private banking and wealth management, is seen as a strategic move to strengthen Amina Bank's position as an institutional crypto infrastructure. Benz brings a wealth of experience, having held roles such as global head of private banking at Standard Chartered, CEO of Merrill Lynch Wealth Management Asia, and head of product and services at UBS Wealth Management APAC.

Hong Kong, a city uniquely prioritizing practical business adoption of crypto technology in a regulated environment, according to Michael Benz, is an ideal location for Amina Bank's expansion. The city is currently experiencing significant regulatory developments, including the implementation of the Securities and Futures Commission's ASPIRe roadmap, the Hong Kong Monetary Authority's stablecoin licensing framework, and the government's Digital Asset Policy 2.0 initiative.

Benz's expertise in both traditional finance and cryptocurrency, coupled with his exceptional network and deep understanding of client needs, will aid in evolving Amina Bank's crypto products and capabilities. The bank plans to launch enhanced technology platforms in the second half of 2025.

The appointment of Michael Benz positions Amina Bank as Switzerland's fastest-growing crypto bank. This move comes after a record 2024 performance where revenue surged 69% to $40.4 million. Benz will report directly to CEO Franz Bergmueller at Amina Bank.

Meanwhile, Amy Yu, Amina's chief executive officer APAC, departed in July to join SC Ventures, Standard Chartered's venture arm, as new venture lead.

Amina Bank, formerly known as Seba, has made a name for itself as a pioneer in the cryptocurrency banking sector. With the appointment of Michael Benz, the bank is poised to continue its growth trajectory and solidify its position as a leader in the APAC region and beyond.