Swiss Crypto Bank AMINA Secures MiCA License in Austria, Expands European Services

Executive Summary

AMINA, a Swiss-based crypto bank, has successfully obtained a Virtual Asset Service Provider (VASP) license in Austria. This regulatory approval enables AMINA to expand its offerings of regulated crypto trading, custody, and portfolio management services to professional investors throughout the European Union. The move aligns with the Markets in Crypto-Assets (MiCA) regulation, positioning Austria as a key jurisdiction for crypto-friendly financial innovation.

The Event in Detail

AMINA, which holds a banking license from FINMA in Switzerland and additional crypto licenses in Hong Kong and Abu Dhabi, has secured a VASP license in Austria. This license is a critical step for the institution's European expansion, allowing it to provide comprehensive crypto services that meet established EU standards for anti-money laundering (AML) and counter-terrorist financing (CTF). Austria was selected due to its advanced regulatory environment and commitment to investor protection, serving as a model for other EU nations adopting MiCA frameworks.

AMINA has demonstrated significant growth, with a 69% increase in revenue, reaching $40.4 million, and a 136% surge in assets under management (AUM) to $4.2 billion. The bank, formerly known as SEBA Bank, has been a leader in regulated digital asset services since 2019.

Financial Mechanics and Service Offerings

With the newly acquired Austrian VASP license, AMINA is authorized to offer a range of regulated financial services tailored for professional investors. These services include crypto trading, custody, and portfolio management. For clients seeking more active management, AMINA provides Crypto Discretionary Mandates, which require a minimum investment of CHF 500,000 (or equivalent in USD/EUR). These mandates emphasize regulated, secure, and institutionally managed asset custody, available in CHF, USD, and EUR.

Business Strategy and Market Positioning

AMINA's strategic expansion into Austria underscores the increasing importance of regulatory compliance in the European crypto market. With MiCA now fully effective, compliance is a legal necessity rather than merely a competitive advantage. Data indicates that 72% of European crypto investors express a preference for MiCA-compliant platforms, reflecting a strong alignment between market demand and regulatory frameworks. AMINA's move capitalizes on this trend, solidifying its position as a compliant and trusted provider in the digital asset space.

The bank has also forged a partnership with Ripple to offer custody and trading of its RLUSD stablecoin. This collaboration positions RLUSD as a compliant alternative within Europe's evolving regulatory landscape under MiCA, further enhancing AMINA's service portfolio and market reach.

Broader Market Implications

AMINA's entry into the Austrian market under a MiCA-compliant framework carries significant implications for the broader European Web3 economy. MiCA provides the continent's first harmonized license and passport framework for crypto-asset service providers, creating a compelling investment thesis within the multi-billion-euro market. Following MiCA's full enforcement, the Eurozone experienced a notable increase in on-chain transaction volumes, jumping over 60% within six months. This surge highlights a pent-up demand for regulated stablecoin rails and programmable banking services across the region.

Austria's proactive approach to crypto regulation, exemplified by its domestic implementation of MiCAR through the MiCA-Verordnung-Vollzugsgesetz (MiCA-VVG), designates the Austrian Financial Market Authority (FMA) as the competent supervisory authority. The FMA actively supports fintech innovation, providing extensive guidance and accepting documentation in English to streamline processes for international applicants. This regulatory clarity, combined with an established capital income tax rate of 27.5% on crypto-assets and upcoming tax reporting requirements from 2025, positions Austria as a mature and attractive environment for digital asset businesses and investors.