SEBA Bank Unveils Scheme for Customers to Earn Dividend on Cryptocurrency Holdings
It won’t be long until customers of SEBA Bank in Switzerland may profit from their cryptocurrency holdings. Following an announcement on Wednesday, SEBA Bank stated that as a portion of its SEBA Earn program, investors would be able to earn returns via the usage of the bank’s Bitcoin and Ethereum lending services.
The bank, which specializes in cryptoassets, said it intended to provide backing for additional cryptocurrencies in the future. When it comes to institutional investors, the demand for crypto assets is widening, according to SEBA Bank CEO Guido Buehler: “They are interested in income solutions like as staking, DeFi, and centralized cryptocurrency lending.”
Along with centralized lending and borrowing, SEBA claimed institutions will be able to generate yields via its staking and decentralized finance initiatives, or DeFi. Tezos (XTZ) and Cardano (ADA) are now the only proof-of-stake covenants available to Polkadot clients, but the bank stated that it intended to add others in the forthcoming months.
SEBA has been active in the cryptocurrency sector since its inception in 2018, when it became one of the foremost Swiss banks to concentrate on cryptoassets and get a custodial license. It was announced in 2020 that the Bank of France has chosen SEBA to partake in a pilot study to test the viability of cross-border payments using central bank digital currencies.