Michael Benz has been appointed by AMINA Bank to lead Asia Pacific and Hong Kong, and is expected to report to CEO Franz Bergmueller.
Benz has worked in wealth management and private banking for almost 30 years, including 20 years in Asia. Prior positions included APAC head of product & services at UBS Wealth Management, CEO of Merrill Lynch Wealth Management Asia, and worldwide head of private banking at Standard Chartered.
The new hire comes after the Zug-based cryptocurrency bank had record-breaking financial results in 2024, with revenue rising 69 percent to $40.4 million.
Bergmueller says, "Michael Benz is the perfect leader to continue our expansion across Asia because of his expertise in both traditional finance and crypto." We will be able to keep improving our crypto products and capabilities thanks to his outstanding network and profound comprehension of customer needs. His direction guarantees that we can provide our esteemed clients in the area with the comprehensive, regulated crypto services they require.
Also Read: Starbucks China Maintains its Flames Thanks to These Women Leaders
Benz emphasized Hong Kong's unique position in bridging traditional finance and digital assets. "Hong Kong uniquely prioritises practical business adoption in a regulated environment, and crypto technology is no exception," he said.
"This creates an extraordinary opportunity for institutions, corporates, and professional investors exploring this new asset class."
Amina said it plans to launch enhanced technology platforms in the second half of 2025 alongside new strategic partnerships in Hong Kong to strengthen its position as institutional crypto infrastructure.
Also Read: 5 Unique Strategies Used by Modern-day Operational Leaders
To provide custody and trading of its RLUSD stablecoin and build a compliant presence in Europe, Ripple previously teamed up with Swiss-based AMINA Bank, which is governed by FINMA. Major regulators such as the Dubai Financial Services Authority and the New York Department of Financial Services have already approved RLUSD. AMINA highlighted Ripple's regulatory commitment and open structure as important components of the collaboration. Since 2019, the bank—formerly known as SEBA Bank—has led the way in regulated digital asset services. Its partnership with Taurus, a company supported by Deutsche Bank, enhances its standing in the digital finance space.
The asset is being integrated by Ripple into Hidden Road, its recently purchased prime brokerage platform. Additionally, it uses RLUSD for enterprise cross-border transactions on the Ripple Payments network. Under MiCA, Ripple is presenting RLUSD as a compatible substitute in Europe's changing regulatory environment. By providing regulated access, legal certainty, and a route toward greater liquidity throughout the continent, the Swiss cooperation aids in the long-term expansion of the RLUSD.