Customers of SEBA Bank, a Swiss financial institution, will soon be capable of earning interest on their crypto holdings.
Users can presently generate yields on Polkadot, Tezos, and Cardano. But the bank claimed it would add other proof-of-stake protocols in the following months.
The Bank will support more cryptocurrencies in the future
SEBA Bank said on Oct. 13 that as part of its SEBA Earn programme, investors could use its Bitcoin (BTC) and Ether (ETH) lending services to create yields. The bank, which concentrates on digital assets, said it wanted to provide support for more cryptocurrencies in the future.
“As institutional interest in digital assets grows, investors’ hunger for crypto-assets grows. With a focus on generating services like staking, DeFi. As well as centralised crypto borrowing and lending”, stated SEBA Bank CEO Guido Buehler.
In addition to centralised lending and borrowing, SEBA claimed institutions would be able to earn returns through its staking and decentralised finance, or DeFi, programmes. Users can presently generate yields on Polkadot, Tezos, and Cardano. But the bank claimed other proof-of-stake protocols would be added in the following months.
Switzerland’s first cryptocurrency fund acquired approval
SEBA has been working in the crypto field from its inception in 2018, and was one of the first banks focusing on digital assets to get a custody licence in Switzerland. The Bank of France chose SEBA to take part in an innovative digital Euro pilot project last year, with the goal of determining the viability of central bank digital currencies in bridge payments.