Hassan Maishera
SEBA Bank expands its cryptocurrency offering
Customers of Swiss-based financial institution SEBA Bank will start to enjoy yields on their cryptocurrency holdings as the bank is expanding its crypto services. The financial institution announced earlier today that users can now earn yields on their cryptocurrency holdings.
According to SEBA Bank, investors on their platform can use the Bitcoin (BTC) and Ether (ETH) lending services to earn yields. This latest development is part of the company’s SEBA Earn Program designed to attract more customers to their platform. The bank said it plans to add support for more cryptocurrencies in the coming months.
SEBA Bank CEO Guido Buehler stated that “As institutional interest in digital assets accelerates, investors have a broader appetite for crypto assets, with a particular interest in earning services like staking, DeFi and centralized crypto borrowing and lending.”
Furthermore, the digital asset bank said in addition to centralized lending and borrowing, institutions would be able to earn returns through its staking and decentralized finance, or DeFi, programs. At the moment, SEBA Bank customers can earn yields on Polkadot, Tezos and Cardano. However, the bank intends to add more proof-of-stake protocols over the next few months. SEBA pointed out that it will be the first fully regulated bank to offer investors access to yields in decentralized finance (DeFi) protocols.
SEBA Bank was launched in 2018 to become one of the first digital asset-focused financial institutions in the world. The bank has received a custody license in Switzerland, allowing it to offer numerous financial services to both retail and institutional traders and investors.
The past few years have seen SEBA Bank participate in funding numerous projects within the cryptocurrency space.
