SEBA bank,FINMA licensed digital assets banking platform, has launched a program that allows its users to earn yields on crypto. Clients have the option to enjoy yields from Polkadot, Tezos and cardano. The bank gave hints that it plans to increase its proof-of-stake protocols soon.
On Wednesday, the Swiss-based bank announced that investors on its platform can use Bitcoin (BTC) and Ether (ETH) lending services to earn yields from its SEBA Earn program. In the coming months, the program will integrate support for more cryptocurrencies.
There is no doubt that there are many institutional players in the space and that is why the value of money locked in the DeFi industry is up to $80 billion. Permissioned DeFi protocols will surely be a baite for institutional investors.
According to the bank CEO Guido Buehler, the bank made that move to meet the growing interest of institutional investors who are looking for diverse ways of earning interest. The bank’s primary focus is on staking, DeFi and centralized crypto borrowing and lending.
The bank clarified that institutions will be able to earn more returns through staking, DeFi programs, centralized lending and borrowing. Customers have the option to generate leads on Polkadot’s DOT, Tezos (XTZ) and Cardano (ADA) as it plans to add in more proof-of-stake protocols.
SEBA is a major Swiss bank that is a pioneer in offering digital assets. It was founded in 2018 and is one of the first to acquire a custody license in Switzerland. In 2020, the Bank of France held an experimental digital euro pilot project where it asked SEBA to participate. The main aim of the project was to check the feasibility of central bank digital currencies in cross-border payments.
Image by Steven Depolo from Flickr.
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