Cryptocurrency bank Amina hires experienced private banking figure to spearhead Asia's growth efforts

Amina Bank, Switzerland's fastest-growing cryptocurrency bank, has announced the appointment of Michael Benz as the head of its Hong Kong operations and the broader APAC region. This move comes after a record-breaking 2024 performance, during which the bank's revenue surged 69% to $40.4 million.

Michael Benz brings over 30 years of experience in private banking and wealth management to Amina Bank. He has held notable positions 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.

CEO Franz Bergmueller expressed confidence in Benz's appointment, citing his exceptional network and deep understanding of client needs. This, Bergmueller believes, will allow AMINA Bank to continue evolving its crypto products and capabilities.

Benz emphasised Hong Kong's unique position in bridging traditional finance and digital assets. He highlighted the city's prioritization of practical business adoption of crypto technology in a regulated environment as a unique opportunity for institutions, corporates, and professional investors.

Amina Bank plans to strengthen its position as institutional crypto infrastructure through new strategic partnerships in Hong Kong. The focus of these partnerships is to enhance its technology platforms, with the bank planning to launch enhanced technology platforms in the second half of 2025.

The appointment of Benz coincides with significant regulatory developments in Hong Kong. These include the Securities and Futures Commission's ASPIRe roadmap implementation, the Hong Kong Monetary Authority's stablecoin licensing framework, and the government's Digital Asset Policy 2.0 initiative.

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. No further details about Yu's departure or her role at SC Ventures were provided.

With Benz at the helm, Amina Bank aims to capitalise on the opportunities presented by the dynamic crypto landscape in Hong Kong and the APAC region.

Cryptocurrency bank Amina hires experienced private banking figure to spearhead Asia's growth efforts