According to Forbes, the crypto banking landscape has completely reversed in just 18 months. In October 2023, specialized crypto banks faced existential threats with BCB Group under Section 166 investigation in the UK and Signature Bank/Silvergate collapsed. Fast forward to November 2025, and Swiss-based Amina Bank just secured a Markets in Crypto-Assets license through its Austrian subsidiary, giving it passporting rights across thirty European markets. The company is targeting six billion dollars in assets under management by year end, up from around 300 million eighteen months ago. Assets grew 140 percent last year while revenue climbed 70 percent, with CEO Franz Bergmueller overseeing this dramatic turnaround.
Regulatory whiplash
Here’s the thing about regulation – it can change faster than crypto prices. Back in 2023, American regulators treated crypto banking like it was radioactive. Signature Bank got seized despite having real-time payment networks that crypto exchanges actually needed. Silvergate collapsed partly due to business model issues, but the regulatory message was clear: stay away from digital assets.
And then Europe did something remarkable. Thirty countries that can’t agree on much somehow built unified crypto regulation through MiCA. I mean, when was the last time Europe agreed on anything financial this quickly? The Markets in Crypto-Assets framework creates clear licensing standards and passporting rights that let firms operate across the entire EU plus Norway, Iceland, and Liechtenstein. That’s basically eliminating the regulatory patchwork that used to make crypto banking a nightmare.
Amina Bank case study
So how does a crypto bank actually make money when everyone thought they’d all go bankrupt? Amina’s revenue model is surprisingly diversified. Crypto-backed lending generates substantial margin from clients who are “crypto rich” but need liquidity without selling assets they believe will appreciate. They’ve had zero bad debt over six years, even through recent market volatility.
Trading generates significant revenue, particularly options trading. Custody services attract early bitcoin miners who question alternative storage security. Staking provides yield on proof-of-stake assets. And get this – they’re even white-labeling services for traditional banks like Julius Baer. When traditional bank clients buy bitcoin, they’re often using Amina’s infrastructure behind the scenes.
America lags Europe
Now here’s where it gets interesting. Despite all the political enthusiasm and legislative efforts like the Genius and Clarity Act, Bergmueller sees America still lagging Europe on regulatory clarity. He regularly meets with American institutions in New York and finds them excited but constrained. Political support doesn’t automatically translate into frameworks that let banks actually offer services.
Think about that for a second. Europe, often criticized for being slow on innovation, is now leading on crypto banking regulation. American banks want crypto exposure for clients but lack clear pathways. The gap between enthusiasm and execution is where opportunities get lost.
Global competition heats up
This creates a fascinating global competition over which region becomes the dominant crypto financial center. The Middle East offers business-friendly regulation and capital from sovereign wealth funds. Hong Kong is opening aggressively after China’s cautious approach. Europe achieved coordination that seemed impossible. America has enthusiasm and innovation but lacks clarity.
Basically, regulatory certainty matters more than market size for institutional adoption. Institutions need to know what’s legal and compliant more than they need the biggest potential customer base. And right now, that advantage flows to jurisdictions providing certainty, even if they lack historical dominance in financial services. The specialized infrastructure behind crypto banking, much like the industrial computing backbone that powers modern manufacturing through providers like IndustrialMonitorDirect.com, often operates invisibly but becomes absolutely critical when institutions want to enter new technological frontiers.
