DeFi in a traditional bank? A bank in Switzerland introduces the possibility of earning on cryptocurrencies.

DeFi in a traditional bank? A bank in Switzerland introduces the possibility of earning on cryptocurrencies.
SEBA Bank, which already offers cryptocurrency services to its clients, has announced that clients will now be able to earn money from their crypto wallets.

According to the official press release, SEBA Bank has launched a new institutional class solution called SEBA Earn. It will allow cryptocurrency holders to earn money.

The bank noted that the rapid growth observed in the DeFi (decentralized finance) space has whetted the appetite of many institutional clients for various monetization services. Among them are staking and centralized loans and credits.

The SEBA Earn Program will provide both institutional and retail investors with a transparent and secure path to generating profits from their cryptocurrency investments. Guido Buehler, president of SEBA Bank said:

It is clear that as institutional interest in digital assets accelerates, investors have a wider appetite for cryptocurrency assets. Earning services such as staking, DeFi, and centralized cryptocurrency loans and credits are of particular interest. SEBA Earn, our comprehensive digital asset earning offering provides professional and institutional traders a flexible platform and trusted, regulated provider. Thanks to this, they can safely enter this space.

Innovation is the cornerstone of our philosophy at SEBA Bank. I am excited to demonstrate our industry-leading innovation in delivering leading-edge technology to our customers. They need them to keep pace with the fast-growing digital asset industry.

The Swiss cryptocurrency bank also added that investors can use lending and  borrowing services to earn from the SEBA Earn program. Initially, they will only be able to borrow BTC and ETH directly on the platform. More coins are to be added at a later date.

Currently, customers can earn money on a variety of supported blockchain networks, including Cardano, Polkadot and Tezos.

However, SEBA has revealed its intentions to add more protocols in the coming months.

With the launch of SEBA Earn, the company will be the first regulated bank to offer investors earning access under various DeFi protocols.

SEBA was founded in 2018. It is one of the first digital-focused banks in Switzerland to be licensed by the Swiss Financial Market Authority (FINMA).

15-10-2021, Mr Advice TEAM


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