Amina Bank, a FINMA-regulated cryptocurrency bank based in Switzerland, has appointed Michael Benz as head of its Hong Kong and Asia-Pacific operations.

Benz previously held senior roles at Standard Chartered, Merrill Lynch Wealth Management Asia, and UBS Wealth Management APAC.

He will oversee Amina’s expansion in Asia as Hong Kong’s regulatory environment for digital assets evolves.

Benz will report to Amina CEO Franz Bergmueller.

AMINA reported a 69% rise in revenue to US$40.4 million in 2024.

The bank received its Hong Kong licenses for dealing in securities, advising on securities, and asset management in November 2023.

🔗 Source: AMINA Bank

🧠 Food for thought

1️⃣ Traditional banking veterans are accelerating their move into crypto as institutional demand surges

Benz’s appointment reflects a broader shift where senior traditional finance leaders are crossing into digital assets to capture growing institutional opportunities.

AMINA’s record 2024 performance, with 69% revenue growth to $40.4 million and a 136% increase in assets under management to $4.2 billion, demonstrates the substantial business potential that’s attracting experienced executives 1.

The trend extends beyond individual moves, as established crypto banks like AMINA and Sygnum, both founded in 2019 as Switzerland’s first licensed crypto banks, are now competing intensively for talent and market share 2.

This migration of traditional finance expertise signals that crypto banking has matured beyond its startup phase into a sector requiring sophisticated financial services experience.

2️⃣ Hong Kong’s regulatory maturity is creating a competitive advantage in the global crypto banking race

Hong Kong has systematically built a comprehensive digital asset framework that positions it ahead of other financial centers still grappling with regulatory uncertainty.

The city’s stablecoin regime launched on August 1, 2025, coinciding with a stablecoin market that has doubled since early 2024 to reach nearly $270 billion in market capitalization 3.